Question
Mortgage is:
Solution
As per TP Act, 1882 s. 58. 58. āMortgageā, āmortgagorā, āmortgageeā, āmortgage-moneyā and āmortgage-deedāĀ defined.ā(a) A mortgage is the transfer of an interest in specific immoveable property for theĀ purpose of securing the payment of money advanced or to be advanced by way of loan, anĀ existing or future debt, or the performance of an engagement which may give rise to a pecuniaryĀ liability.
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