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Oct 11, 2020 · As per Section 73(2) of the Transfer of Property Act, 1882 if the mortgaged property is acquired under the land acquisition act or any other act and the compensation is paid the mortgagee can claim his debt from such compensation.
Jul 13, 2021 · If the mortgagee makes the payment, the buyer shall transfer the mortgaged property to the seller (the mortgagor shall transfer the property back to the mortgagee), such a transaction is called a mortgage by conditional sale.
Apr 5, 2024 · Mortgage is defined by Section 58 (a) of the Transfer of Property Act, 1882 (TPA) as a transfer of an interest in specific immoveable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary (monetary ...
Jul 6, 2023 · The Transfer of Property Act encompasses a comprehensive framework for mortgages, which play a crucial role in real estate transactions. A mortgage allows individuals to secure loans by offering their immovable property as collateral. However, not all mortgages are the same, as they can vary regarding rights, obligations, and legal implications.
Feb 18, 2020 · Subject-wise Law Notes Transfer of Property Act. LawBhoomi. February 18, 2020. Share & spread the love. A mortgage is the transfer of an interest in specific immoveable property for the purpose of securing the payment of money advanced or to be advanced by way of loan. Transfer of Property Act deals with Mortgage in India. Contents hide. 1.
(a) A mortgage is the transfer of an interest in specific immoveable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability.
According to section 58 (a) of transfer of Property Act, A mortgage is transfer of interest in specific immovable property for purpose of securing: The payment of money advanced by way of loan. An existing or future debt, or. The performance of an engagement which may give rise to a pecuniary liability.
Jan 10, 2021 · Section 58 (a) of the Transfer of Property Act states that a mortgage is the transfer of an interest in the specific immovable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability.
THE TRANSFER OF PROPERTY ACT, 1882 ACT NO. 4 OF 1882 [17th February, 1882.] An Act to amend the law relating to the Transfer of Property by act of Parties. Preamble.—WHEREAS it is expedient to define and amend certain parts of the law relating to the transfer of property by act of parties; It is hereby enacted as follows:— CHAPTER I
Dec 9, 2023 · According to this section, transfer of property means an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself and other living persons. Hello Readers! This article provides Transfer of Property Act notes with case laws.
