Section 59Central Act

Section 59: Mortgage when to be by assurance.

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.

Sec 58 — Mortgage , mortgagor , mortgagee , mortgage-money and mortgage- deed defined.

Sec 59A — References to mortgagors and mortgagees to include persons deriving title from them.

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