Transfer of Property Act, 1882, Section 58(c), 54 -- Mortgage by conditional sale or sale with a condition to re-purchase - If sale and agreement to re-purchase embodied in separate documents, then transactions cannot be a mortgage by conditional sale irrespective of whether documents are contemporaneously executed...........
Transfer of Property Act, 1882, Section 58(c), 54 -- Mortgage by conditional sale or sale with a condition to re-purchase - Sale and agreement to re-purchase embodied in separate documents - Defendant agreed to re-convey the property subject to repayment being made as provided in agreement of sale - Since amount was not paid by plaintiff, defendant acquired absolute right..........
Agreement to sell -- Specific performance - Time essence of contract - Clauses in agreement in the nature of reciprocal promises - Promise made by seller in clause 5 has to be performed first that title documents have to be obtained from mortgagee after mortgage is cleared - It is only then balance consideration for sale has to be paid - Time thus, was not essence of..........
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 17(4), Transfer of Property Act, 1882, Section 65A -- Secured assets - Delivery of possession - In the instant case, respondent was indicated as a tenant for 15 years after mortgage, without knowledge of mortgagee - Tenant who has been inducted after mortgage..........
Registration Act, 1908, Section 17, 49 -- Mortgage - Unregistered - Mortgage deed is inadmissible in evidence - However, plaintiff has right to recover loan amount of Rs.2 lakhs, on the basis of execution of receipt thereof which stands established alongwith interest at the rate of 12% per annum and future interest at the rate of 6% per annum...........
Transfer of Property Act, 1882, Section 58(c) -- "Mortgage" or transaction of "sale with option of re-purchase" - Recital of document executed - Defendant has taken loan from plaintiff and sold property to plaintiff and given possession for two years as mortgage with stipulation that if defendant return money with in two years then plaintiff would reconvey property but if..........
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 13(4) -- Recovery of dues - Petitioner`s father/owner of entire extent of land secured loan from Bank by executing a mortgage deed - Landed property devolved on all his four sons, including petitioner - Such devolution was subject to mortgage created by father -..........
Transfer of Property Act, 1882, Section 58(c), 54 -- Mortgage by conditional sale and sale with condition to repurchase - In mortgage by conditional sale, transfer is made as a security to a loan taken by mortgagor/owner - Whereas, in a sale with a condition to repurchase, sale is made by vendor reserving with himself a right to repurchase it within a stipulated time...........
Transfer of Property Act, 1882, Section 58(c), 54 -- Mortgage by conditional sale or sale with condition to repurchase - Intention of parties - Mere incorporation of word `borrowed' and `mortgage by conditional sale' cannot by itself establish that there is a debtor-creditor relationship...........
Transfer of Property Act, 1882, Section 58(c), 54 -- Mortgage by conditional sale or sale with condition to repurchase - Mere fact that sale and agreement to repurchase are embodied in same document, having regard to intention of parties and surrounding circumstances making the transaction a conditional sale with option to re-purchase, document does not fall within proviso..........
