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Which of the following types of mortgage requires delivery of possession of the mortgaged property, or…

Section 58(d) defines a usufructuary mortgage to include delivery of possession or an express or implied undertaking to deliver it. Sections 58(c), 58(e) and 58(f) do not…

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Which of the following types of mortgage requires delivery of possession of the mortgaged property, or an express or implied undertaking to deliver it, under Section 58 of the Transfer of Property Act, 1882?

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Answer and explanation

Correct answer D

Section 58(d) defines a usufructuary mortgage to include delivery of possession or an express or implied undertaking to deliver it. Sections 58(c), 58(e) and 58(f) do not require delivery of possession of the property for the named forms. A mortgage by deposit of title deeds involves delivery of the documents of title.

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Option A

Incorrect. Section 58(c) concerns an ostensible sale subject to a condition and does not require delivery of possession.

Option B

Incorrect. The absolute transfer and covenant to repay in Section 58(e) do not require delivery of possession.

Option C

Incorrect. Section 58(f) requires delivery of title documents, distinct from delivery of possession of the property.

Option D

Correct. The form involving delivery of possession or an undertaking to deliver it is a usufructuary mortgage.

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