Mortgages Of Immovable Property And Charges MCQ Quiz in मल्याळम - Objective Question with Answer for Mortgages Of Immovable Property And Charges - സൗജന്യ PDF ഡൗൺലോഡ് ചെയ്യുക

The correct answer is Both (1) and (2) 

Key Points

• Under Section 58(g) of the Transfer of Property Act, 1882, an Anomalous Mortgage is defined as:
  • “A mortgage which does not fall under any of the five specified categories — simple, usufructuary, mortgage by conditional sale, English mortgage, or mortgage by deposit of title deeds — or is a combination of two or more of these types.”
• Thus:
• Mortgage usufructuary by conditional sale
  • This is a hybrid mortgage that combines the usufructuary and mortgage by conditional sale features — this is not a standard type, hence falls under Anomalous Mortgage.
• Simple usufructuary mortgage
  • Again, this is a combination of simple and usufructuary mortgages. Since it's a mix, and not a standard form, it also becomes an anomalous mortgage.
• Hence, both are covered.

Additional Information

• Only mortgage usufructuary by conditional sale: Incomplete – the other combo is also covered.
• Only simple usufructuary mortgage: Incomplete – the first combo is also covered.
• Neither (1) nor (2): Wrong – both are textbook examples of anomalous mortgages.

The correct answer is mortgagee’s right of for closure or sale. 

Key Points

• Under the Transfer of Property Act, 1882, the mortgagor's right of redemption is considered a statutory right under Section 60, and is coextensive with various associated rights. This means the right of redemption is interconnected with:.
• Mortgagor’s Right of Redemption:
• This is a statutory and equitable right that allows the mortgagor (borrower) to reclaim the mortgaged property by repaying the entire mortgage debt, even after default, but before the mortgagee (lender) has exercised their right of foreclosure or sale.
• Mortgagee’s right of foreclosure or sale
  • Redemption must happen before the mortgagee legally forecloses or sells the property. Once foreclosure is done (by court decree or sale under power), the right to redeem ends.

Additional Information

• Right to inspection and production of documents – This is a separate procedural right under property law, not directly tied to redemption.
• Right to redeem separately or simultaneously – This refers to how multiple mortgagors may redeem, but again, it’s not the primary concept tied to the timing of foreclosure/sale.
• All of these – Incorrect because only option 2 directly defines the coextensive nature of the mortgagor’s right of redemption.

The correct answer is Gift

Key Points

Under the Transfer of Property Act, 1882, attestation by two witnesses is mandatory only for certain types of transfers.

• 1) Sale (Section 54 TPA)
  • A sale of immovable property does not require attestation by two witnesses.
  • It requires a registered instrument (for property over ₹100) but not mandatory attestation.
  •  Attestation is not mandatory.
• 2) Mortgage (Section 59 TPA)
  • A simple mortgage or other types of mortgage involving immovable property require registration if the principal money is ₹100 or more.
  • While attestation may be common, it is not explicitly required under Section 59 to have two attesting witnesses.
•  3) Gift (Section 122–123 TPA)
  • A gift of immovable property must be:
  • Made by a registered instrument, and
  • Attested by at least two witnesses.
  • This is the only one where attestation by two witnesses is expressly required by law.

The correct answer is Section 81

Key Points

• Section 81 of the Transfer of Property Act, 1882 deals with the doctrine of Marshalling in the context of mortgages.
• Key Provision:
  • When two properties are mortgaged to one person and only one of them is mortgaged to another subsequent mortgagee, then the latter has the right to claim satisfaction from the property not mortgaged to him.
• The section further states that:
  • "When there is a conflict between the rules of marshalling and contribution, marshalling shall prevail."
• This gives priority to marshalling over contribution in cases of conflict between the two doctrines.

Additional Information

• Section 80 – Deals with marshalling only, does not mention its priority over contribution.
• Section 82 – Deals with the doctrine of contribution.
• Section 83 – Concerns the right of mortgagor to deposit mortgage money.

The correct answer is Section 58(e)

Key Points

• Section 58 of the Transfer of Property Act, 1882 defines various types of mortgages.
• Section 58(e) specifically defines an English mortgage.
• According to Section 58(e):
  • An English mortgage is where:
    • The mortgagor binds himself to repay the mortgage money on a certain date, and
    • Transfers the property absolutely to the mortgagee,
    • Subject to a condition that the mortgagee will retransfer it upon payment.
• Thus, in an English mortgage:
  • There is absolute transfer of ownership (not just possession).
  • There is a personal covenant to repay.
  • The transfer is subject to a condition of retransfer.

Additional Information

• Option 2) Section 58(d) – Defines Usufructuary Mortgage.
• Option 3) Section 58(g) – Defines Mortgage by deposit of title deeds.
• Option 4) Section 58(f) – Defines Mortgage by conditional sale.

The correct answer is Section 76

Key Points

• Section 76 of the Transfer of Property Act, 1882 lays down the statutory duties of a mortgagee who takes possession of the mortgaged property.
• A mortgagee in possession is someone who has lawfully taken control of the mortgaged property with the mortgagor's consent or under the terms of the mortgage.
• Duties under Section 76 include:
  • Manage the property prudently as a person of ordinary prudence would manage their own property.
  • Use the property’s income (e.g., rents and profits) to pay interest and principal on the mortgage.
  • Keep clear accounts of all receipts and expenses.
  • Avoid waste or deterioration of the property.
  • Pay government dues and public charges from the income of the property.
• The mortgagee is not liable for deterioration of the property if it happens without his fault or negligence.

Additional Information 

• Option 1. Section 77: Incorrect – Deals with the liability of mortgagor to pay public charges, not the duties of mortgagee in possession.
• Option 2. Section 78: Incorrect – Refers to postponement of prior mortgage, not related to duties of a mortgagee in possession.
• Option 3. Section 79:Incorrect – Concerns mortgagee’s rights in case of lease, not general statutory duties.

The correct answer is Anomalous mortgage

 Key Points

• No Standard Form Matches: This mortgage does not fit neatly into any of the standard categories like simple, usufructuary, conditional sale, or English mortgage.
• Hybrid Features: The arrangement includes a usufructuary element (B takes income from the property for 10 years), and later redemption by payment of the remaining balance—a feature of simple or English mortgage.
• Defined by Section 58(g): Section 58(g) defines an anomalous mortgage as a mortgage that is not a simple mortgage, mortgage by conditional sale, usufructuary mortgage, or English mortgage, but a combination or modification of them.
• Key Reason: Since this mortgage involves both usufructuary elements (benefit from property) and redemption obligations (paying balance), it's an anomalous mortgage.

Additional Information

• Option 1) Mortgage by Conditional Sale – Incorrect: There is no condition to sell if the debt isn't repaid. It’s not a conditional sale.
• Option 3) Simple Mortgage – Incorrect: In a simple mortgage, the mortgagor personally binds himself to repay, and possession is not delivered.
• Option 4) English Mortgage – Incorrect: In an English mortgage, the property is absolutely transferred to the mortgagee, subject to a condition to re-transfer upon repayment. That is not the case here.

The correct answer is There must be promise to transfer of interest.

Key Points

• “A mortgage is the transfer of an interest in specific immoveable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability.”
• Actual Transfer of Interest is Mandatory
  • As per Section 58(a), a mortgage requires an actual transfer of an interest in specific immovable property. A mere promise to transfer is insufficient.
• The Property Must Be Specific and Immovable: The interest must relate to clearly defined immovable property.
• Purpose of Transfer: The transfer must be for securing a loan, an existing or future debt, or a pecuniary obligation.
• Defined Parties: The transferor is the mortgagor, and the transferee is the mortgagee.
• Transfer of Interest Does Not Mean Ownership Transfer: Only an interest is transferred, not ownership of the property.

Additional Information

• "There must be a transfer of interest.": Correct as per Section 58(a).
• "The interest must be of some specific immovable property.": Correct and essential.
• "The purpose must be to secure the payment of a debt.": Correct and essential.

The correct answer is Equitable Mortgage

Key Points

• Defined under: Section 58(f) of the Transfer of Property Act, 1882
• What happens?
  • The borrower deposits the title deeds (ownership documents) of the property with the lender as security for a loan, without executing a formal mortgage deed.
• Where valid?
  • Only in notified towns like Mumbai, Chennai, Kolkata, Delhi, and others as notified by the State Government.
• Why “equitable”?
  • Because it originated in equity courts in England; based on fairness, not strict legal formalities.

Additional Information

• Option 1) Anomalous Mortgage: A combination of two or more types of mortgages (not simply deposit of title deeds).
• Option 2) English Mortgage: Involves transferring ownership absolutely with a condition of retransfer on repayment.
• Option 4) Usufructuary Mortgage: Gives the lender possession and the right to enjoy rents and profits instead of interest or repayment.

The correct answer is Option 1

Key Points

• A mortgage is called an English mortgage where:
  • The mortgagor binds himself personally to repay the mortgage money on a certain date, and
  • Transfers the property absolutely to the mortgagee,
  • With a condition that the mortgagee will re-transfer the property to the mortgagor upon payment of the mortgage money.
• Key Features of an English Mortgage:
  • Absolute transfer of property to the mortgagee (in law, though not in intent).
  • Mortgagor gives a personal covenant to repay.
  • Property is re-transferred to the mortgagor upon full repayment.
  • Usually requires registration.
  • Commonly used in England, hence the name.