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Section 59 - Mortgage when to be by assurance : Transfer of Property Act, 1882

 

 

Mortgage when to be by assurance? Section 59 of Transfer of Property Act, 1882

Section 59 of Transfer of Property Act 1882 : "Mortgage when to be by assurance"

59. Where the principal money secured is one hundred rupees or upwards, a mortgage 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 a registered instrument signed and attested as aforesaid, or (except in the case of a simple mortgage) by delivery of the property.

 
 

TRANSFER OF PROPERTY ACT 1882

Section 41 - Transfer by ostensible owner

Section 42 - Transfer by person having authority to revoke former transfer

Section 43 - Transfer by unauthorised person who subsequently acquires interest in property transferred

Section 44 - Transfer by one co-owner

Section 45 - Joint transfer for consideration

 

 

Section 46 - Transfer for consideration by persons having distinct interests

Section 47 - Transfer by co-owners of share in common property

Section 48 - Priority of rights created by transfer

Section 49 - Transferee's right under policy

Section 50 - Rent bona fide paid to holder under defective title

 

 

Section 51 - Improvements made by bona fide holders under defective titles

Section 52 - Transfer of property pending suit relating thereto

Section 53 - Fraudulent transfer

Section 53A - Part performance

CHAPTER III
SALES OF IMMOVABLE PROPERTY

Section 54 - Sale defined

Section 55 - Rights and liabilities of buyer and seller

 

 

Section 56 - Marshalling by subsequent purchaser

Section 57 - Provision by Court for incumbrances, and sale freed therefrom

CHAPTER IV
OF MORTGAGES OF IMMOVABLE PROPERTY AND CHARGES

Section 58 - Mortgage, mortgagor, mortgagee, mortgage-money and mortgage-deed defined

Section 59 - Mortgage when to be by assurance

Section 59A - References to mortgagors and mortgagees to include persons deriving title from them

Section 60 - Right of mortgagor to redeem

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