Multiple choice

Which of the following transfers is valid?

  1. An unregistered usufructuary mortgage for Rs. 100

  2. An unregistered gift of immovable property of the value of Rs. 99

  3. An oral lease of immovable property from year to year

  4. An oral assignment of debts
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A Correct answer
Explanation

The transfer is invalid. As per section 59 of Transfer of Property Act, 1882, where the principal money secured is one hundred rupees or more, a mortgage other than a mortgage by deposit of title deeds can be affected only by a registered instrument signed by the mortgagor.

 

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