New Enroll in RBI Grade B New Batch - Starts on May 21

    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. “Mortgage”, “mortgagor”, “mortgagee”, “mortgage-money” and “mortgage-deed”  defined.—(a) A mortgage is the transfer of an interest in specific immoveable property for the  purpose of securing the payment of money advanced or to be advanced by way of loan, an  existing or future debt, or the performance of an engagement which may give rise to a pecuniary  liability.

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