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      Question

      Mortgage is:

      A Transfer of interest in an immovable Property Correct Answer Incorrect Answer
      B For securing payment of money Correct Answer Incorrect Answer
      C For performance of pecuniary engagement Correct Answer Incorrect Answer
      D A and B together. Correct Answer Incorrect Answer
      E A and B or C Correct Answer Incorrect Answer

      Solution

      As per TP Act, 1882 s. 58. 58. ā€œMortgageā€, ā€œmortgagorā€, ā€œmortgageeā€, ā€œmortgage-moneyā€ and ā€œmortgage-deedā€Ā  defined.—(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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