Logo
Court Book - India Code App - Play Store

advertisement

Section 59

Mortgage When to Be by Assurance.

The Transfer of Property Act, 1882
Where the principal money secured is one hundred rupees or upwards, a mortgage 1[other than a mortgage by deposit of title-deeds], can be effected only by a registered instrument signed by the mortgagor and attested by at least two witnesses.

Where the principal money secured is less than one hundred rupees, a mortgage may be effected either by 2[a registered instrument] signed and attested as aforesaid, or (except in the case of a simple mortgage) by delivery of the property.

3* * * *




1. Ins. by Act 20 of 1929, s. 20.

2. Subs. by Act 6 of 1904, s. 3, for "an instrument".

3. Third paragraph omitted by Act 20 of 1929, s. 20.