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    Question

    Where a person delivers to a creditor documents of title

    to immovable property, with intent to create a security, the transaction is called
    A English Mortgage Correct Answer Incorrect Answer
    B Charge Correct Answer Incorrect Answer
    C Mortgage by deposit of title-deeds Correct Answer Incorrect Answer
    D Anomalous mortgages Correct Answer Incorrect Answer

    Solution

    Transfer of Property Act: Section 58  Mortgage , mortgagor, mortgagee, mortgage-money and mortgage- deed defined: ( f) Mortgage by deposit of title-deeds.-- Where a person in any of the following towns, namely, the towns of Calcutta, Madras and Bombay, and in any other town which the 8[State Government concerned] may, by notification in the Official Gazette, specify in this behalf, delivers to a creditor or his agent documents of title to immoveable property, with intent to create a security thereon, the transaction is called a mortgage by deposit of title-deeds.

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