Transfer Of Property Act, 1882
58. “Mortgage”, “mortgagor”, “mortgagee”, “mortgage-money” and “mortgage-deed” defined.—
(a) A mortgage is the transfer of an interest ... payment of the mortgage-money, the transaction is called an usufructuary mortgage and the mortgagee an usufructuary mortgagee. (e) English mortgage.— Where the mortgagor binds
property; and all the provisions hereinbefore contained which apply to a simple mortgage shall, so far as may be, apply to such charge. Nothing
terms that the
provisions applying to simple mortgages shall apply to
charges. A charge-holder like a simple mortgagee has a
right to bring ... mortgage-
money, the transaction is called a simple mortgage and the
mortgagee a simple mortgages".
A charge on the other hand under
title-deeds.—
The provisions hereinbefore contained which apply to a simple mortgage shall, so far as may be, apply to a mortgage by deposit
mortgage debt. Similarly the second mortgagee in suing on his mortgage might have impleaded the first mortgagee either offering to redeem the mortgage, or asking ... while to do so. A simple mortgagee, whether he be the first mortgagee or the puisne mortgagee, could not take advantage of his own omission
mortgage decree?" In this case there had been a simple mortgage-deed executed on 30th October 1922; the suit for sale was fixed ... mortgagee and not to the mortgagor. If the income also is to belong to the mortgagee, then all distinction between a simple mortgage
proper time and place, of the mortgage money, to require the mortgagee to deliver the mortgage deed and to deliver possession of the mortgaged property ... mortgage on property other than that comprised in the mortgage a mortgagee may ask that the money due to him upon the same property
difference therefore between a simple mortgagee under Indian Law and a legal mortgagee under English Law exists between a simple mortgagee and an equitable mortgagee ... equitable mortgagee in India, to recover money due on the equitable mortgage, to appoint a Receiver over the mortgage property. An equitable mortgagee in India
even though a mortgagee under the English form of mortgage obtains the legal ownership of the mortgaged property unlike an Indian mortgagee.
11. If some ... forms of mortgage the mortgagee was entitled to the possession of the mortgaged property. In pignus the possession was given to the mortgagee
appellant in this civil appeal. One Munimalaiyan (plaintiff)
executed a simple mortgage in favour of the appellant ... simple Tamil language. The recitals are clear and unambiguous. It
is seen from the document that Munimalaiyan was unable to discharge the simple
mortgage. Panchayatdars
