Multiple choice

Mortgage is _____________ in the immoveable property.

  1. transfer of title

  2. transfer of interest

  3. pledge

  4. hypothecation
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Mortgage is defined in Transfer of Property Act, 1882, Section 58. It involves the transfer of interest in a specific immovable property for the purpose of securing an existing or future debt or for the performance of an engagement which may give rise to a pecuniary liability. In other words, mortgage means transfer of some interest in property while the legal ownership continues with the mortgagor.

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