Which statement is false about a mortgage securing a genuine money or pecuniary obligation under the Transfer of Property Act 1882?
Question and options
Which statement is false about a mortgage securing a genuine money or pecuniary obligation under the Transfer of Property Act 1882?
It must secure money or a pecuniary obligation
It confers absolute ownership free from any right of redemption
Its Chapter IV rules generally apply to Hindus and Muslims
It creates an interest in specific immovable property
Answer and explanation
A mortgage secures money or a pecuniary obligation through an interest in specific immovable property. It does not confer unqualified ownership free of redemption; even an English mortgage is subject to retransfer on repayment.
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