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Which provision of the Transfer of Property Act, 1882 defines a usufructuary mortgage?

Section 58(d) defines the usufructuary mortgage. The arrangement includes delivery or a binding promise of possession and authority to apply rents and profits toward…

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Which provision of the Transfer of Property Act, 1882 defines a usufructuary mortgage?

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Answer and explanation

Correct answer C

Section 58(d) defines the usufructuary mortgage. The arrangement includes delivery or a binding promise of possession and authority to apply rents and profits toward interest, principal, or both as specified.

Option feedback

Option A

Section 58(a) defines a mortgage and related expressions generally.

Option B

Section 58(b) defines a simple mortgage.

Option C

Section 58(d) defines a usufructuary mortgage, in which possession is delivered or promised and the mortgagee can apply rents and profits as specified.

Option D

Section 58(e) defines an English mortgage.

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