Where a person delivers to a creditor documents of title to immovable property, with intent to create a security, the transaction is called

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.