Site navigation

Where the mortgagor delivers possession of the mortgaged property to the mortgagee, and authorizes him…

Under Section 58(d) of the Transfer of Property Act, 1882, where the mortgagor delivers possession to the mortgagee and authorises him to retain it until payment and to take…

Choose your answer

Where the mortgagor delivers possession of the mortgaged property to the mortgagee, and authorizes him to retain such possession until payment of the mortgage-money, and to receive the rents and profits accruing from the property in lieu of interest, or in payment of the mortgage-money, the transaction is called an ______ mortgage.

Select one answer
Answer and explanation

Correct answer D

Under Section 58(d) of the Transfer of Property Act, 1882, where the mortgagor delivers possession to the mortgagee and authorises him to retain it until payment and to take the rents and profits in lieu of interest or in payment of the mortgage-money, the transaction is a "Usufructuary" mortgage.

Practice for these exams

Related question papers

Related exam syllabi

Related questions in this topic