The mortgage, "where the mortgagor binds himself to repay the mortgagemoney on a certain date, and transfers the mortgaged property absolutely to the mortgagee, but subject to a proviso that he will re-transfer it to the mortgagor upon payment of the mortgage-money as agreed", is called:
A. Anomalous mortgage
B. Mortgage by conditional sale
C. English mortgage
D. Usufructuary mortgage
Answer: Option B
This Question Belongs to Law >> Transfer Of Property Act
Join The Discussion
Comments ( 1 )
Related Questions on Transfer of Property Act
A. Section 13
B. Section 14
C. Section 15
D. Section 16
Case of "Raj Kumar Kundu v. Mcqueen" is related to
A. Lis pendens
B. Part performance
C. Mortgage
D. Ostensible owner
A. Transfer by ostensible owner of the property for consideration
B. Transfer by owner of the property in which a widowhas life interest for maintenance
C. Both A and B
D. Neither A nor B
Which property cannot be transferred?
A. A public office
B. A mere chance to succeed
C. A mere right of re-entry
D. All of the above
When property transferred absolutely, it is English Mortgage. When it is an ostensible sale, it is Mortgage by conditional sale. Additonally, repayment on a specific date is another essential of English Mortgage. Correct answer, hence, is C.