For each of the scenario mentioned below, applying the provisions of Transfer of Property Act, 1882 and identify the type of mortgage with reasoning: Neha borrowed funds from a financial institution and transferred owner
CS Professional · Drafting, Pleadings and Appearances · PYQS · June 2026
For each of the scenario mentioned below, applying the provisions of Transfer of Property Act, 1882 and identify the type of mortgage with reasoning: Neha borrowed funds from a financial institution and transferred ownership of her property absolutely, with a promise to repay on a fixed date. The lender agreed to re-transfer the property upon repayment.
Answer & Explanation:
Type: English Mortgage Reason: Absolute transfer of ownership to lender. Borrower promises to repay on a specific date. Lender agrees to re-transfer property upon repayment. This aligns with Section 58(e) of TPA.
Topics: Transfer of Property Act, 1882
Related Questions in this Topic
- For each of the scenario mentioned below, applying the provisions of Transfer of Property Act, 1882 and identify the typ...
- For each of the scenario mentioned below, applying the provisions of Transfer of Property Act, 1882 and identify the typ...
- For each of the scenario mentioned below, applying the provisions of Transfer of Property Act, 1882 and identify the typ...
- For each of the scenario mentioned below, applying the provisions of Transfer of Property Act, 1882 and identify the typ...
- X, the owner of an agricultural land, borrowed ₹ 5 lakh from Y. To secure the loan, X executed an Usufructuary Mortgage ...