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

    Question

    Which of the following mortgage does not require writing

    in law?
    A Mortgage by deposit of title deed Correct Answer Incorrect Answer
    B Usufructuary mortgage Correct Answer Incorrect Answer
    C Simple Mortgage Correct Answer Incorrect Answer
    D Mortgage by conditional sale Correct Answer Incorrect Answer

    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 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.

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