Transfer of Property Act, 1882, Section 58(f) -- Equitable mortgage - Can be created by deposit of either original title deed or certified copies or Photostat copies of title deeds - It is only the intention of parties which is prime factor to be considered...........
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 2(zb), 13(2), Transfer of Property Act, 1882, Section 58(f) -- Security agreement - Enforcement of security interest - In the instant case, guarantor deposited title deeds of suit properties with bank with intention of creating mortgage in favour of bank - Even,..........
Registration Act, 1908, Section 17, Transfer of Property Act, 1882, Section 58(f) -- Registration - Memorandum/letter acknowledging deposit of title deeds - If the memorandum is prepared merely to confirm/acknowledge the deposit of title deeds, registration is not required irrespective of point of time at which it is executed - However, if the memorandum creates rights and..........
Transfer of Property Act, 1882, Section 58(f) -- Mortgage by deposit of title deeds - In order to create mortgage by deposit of title deeds, all that is necessary is mere handing over of title deeds with the intend to create mortgage over property - No formal document is necessary...........
Transfer of Property Act, 1882, Section 58(f) -- Mortgage - Deposit of title deeds - Lease deed in favour of lessee with certain restrictions and conditions regarding transfer of such interest would not satisfy the requirement of title deed - As an unauthorized transfer cannot result in valid assumption of any right by transferee...........
Transfer of Property Act, 1882, Section 58, 59 -- Mortgage by deposit of title deeds - Memorandum prepared after deposit of title deeds without incorporating terms and conditions with regard to the deposit of title deeds is merely evidential and does not require registration - However, memorandum reducing other terms and conditions with regard to the deposit requires..........
Transfer of Property Act, 1882, Section 58, 59 -- Mortgage by deposit of title deeds - No instrument is required to be drawn for this purpose...........
Transfer of Property Act, 1882, Section 58, 59 -- Mortgage by deposit of title deeds - Charge of mortgage can be entered into revenue record in respect of mortgage by deposit of title deeds and for that, instrument of mortgage is not necessary...........
Transfer of Property Act, 1882, Section 58 -- Simple mortgage - Can be by way of deposit of title deeds - However, mortgagee must explain that deposit of title deed was with a specific understanding that it is for purpose of creation of a mortgage - An accidental possession of a document by itself does not bring about mortgage - Law does not stipulate execution of a formal..........
Transfer of Property Act, 1882, Section 58(f) -- Mortgage by deposit of title deeds - The memorandum merely recorded a past event of fact of deposit and did not itself create the mortgage - Held, the document did not therefore create the mortgage and hence did not require registration...........
