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    Question

      Which type of mortgage does not require registration

    with Registrar of Assurances?
    A Simple Mortgage Correct Answer Incorrect Answer
    B Equitable Mortgage Correct Answer Incorrect Answer
    C Usufructuary Mortgage Correct Answer Incorrect Answer
    D Reverse Mortgage Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Equitable Mortgage: Under this type of mortgage, the borrower willingly transfers his or her property title deed to the lender, resulting in a creation of a charge that is based on mutual agreement rather than registration. If the borrower fails to repay their dues, the lender has the right to auction the mortgaged property and recover its losses.

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