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Oct 11, 2020 · Simple Mortgage is defined under Section 58 (b) of Transfer of Property Act, 1882. In a simple mortgage, the mortgagor does not transfer immovable property to the mortgagee but agrees to pay the mortgage money.
Jul 6, 2023 · Mortgage Under Transfer of Property Act. A mortgage is a legal transaction that involves transferring an interest in a specific immovable property to secure the repayment of a loan, whether it is an existing debt or one that may arise in the future.
Feb 18, 2020 · S.59 of the Transfer of the Property Act, 1882. Section 59 of the Transfer of Property Act, 1882 provides as, where the principal money secured is one hundred rupees or upwards, a mortgage other than a mortgage by deposit of title deeds can be effected only by a registered instrument signed by the mortgagor and attested by at least two witnesses.
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 ...
May 28, 2021 · The Transfer of Property Act defines a mortgage by conditional sale as an ostensible sale on condition that upon repayment, the buyer shall transfer the property to the seller. Essential elements of a mortgage by conditional sale are:
(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. The performance of an engagement which may give rise to a pecuniary liability. The transferor is called a ‘Mortgagor’ and the transferee a Mortgagee.
Apr 5, 2024 · According to section 58 of Transfer of Property Act 1882, “Mortgage is the transfer of an interest of an immovable property for the purpose of securing money in advanced, 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
