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Mortgage by deposit of title deeds is also called as .............
Equitable Mortgage
Simple Mortgage
Usufructuary Mortgage
Anomalous Mortgage
- Equitable Mortgage:
In an equitable mortgage, the borrower deposits the title deeds with the lender as security for the loan. It does not require a formal, registered deed and is informal in nature.
Correct Answer
- Simple Mortgage:
Here, the borrower mortgages the property but retains possession of it. In case of default, the lender has the right to sell the property to recover the loan.
- Usufructuary Mortgage:
In this type, the lender gets possession of the property and can enjoy its income until the loan is repaid.
- Anomalous Mortgage:
This is a mortgage that doesn’t fit into standard categories and has mixed features.
By: Kamal Kashyap ProfileResourcesReport error
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