Multiple choice

A mortgage when created through an instrument in writing (called mortgage deed) is required to be registered with _____ within _____ months, if the value of mortgage money is Rs.______.

  1. Registrar of Firms, 4 months, 100 or more

  2. Registrar of Assurances, 4 months, 100 or more

  3. Registrar of Companies, 34 months, 100 or more

  4. Registrar of Assurances, 3 months, 100 or more
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A mortgage when created through an instrument in writing (called mortgage deed) is required to be registered with Registrar of Assurances within 4 months, if the value of mortgage money is Rs. 100 or more. Registration is compulsory for other non-testamentary instruments which purport or operate to create, declare, assign, limit or extinguish, whether in present or in future, any right, title or interest, whether vested or contingent, of the value of one hundred rupees, and upwards, to or in immovable property.  

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