New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    Mortgage by deposit of title deeds is a type of mortgage

    in which :
    A Title deeds are deposited Correct Answer Incorrect Answer
    B Clear title-Property is mortgaged. Correct Answer Incorrect Answer
    C Property is mortgaged with original documents of owner also in custody of mortgagee. Correct Answer Incorrect Answer
    D Title deeds are deposited along-with possession of property. Correct Answer Incorrect Answer
    E None of the above. Correct Answer Incorrect Answer

    Solution

    As per s.58 (f), T. P. Act, which provides that it may be effected in certain towns (including Calcutta) by a person “delivering to his creditor or his agent documents of title to immovable property with intent to create a security thereon.”

    Practice Next