Multiple choice

In which of the following mortgages is the property is transferred by the mortgage absolutely with a condition for retransfer by the mortgagee?

  1. Simple mortgage

  2. English mortgage

  3. Equitable mortgage

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

English mortgage - The borrower promises to repay the borrowed money on a certain date. The borrower transfers the property to the lender. The lender will re-transfer the property when the money is repaid. The mortgaged property is absolutely transferred to the mortgagee.

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