1. A mortgage is the transfer of an interest in specific immovable 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. The transferor is called a mortgagor, the transferee, a mortgagee; the principal money and interest of which payment is secured for the time being are called the mortgage – money, and the instrument (if any) by which the transfer is affected is called a mortgage – deed.
  2. Simple Mortgage: Where without delivering possession the mortgaged property ,the mortgagor binds himself personally to pay the mortgage – money , and agrees expressly or impliedly , that ,in the event of his failing to pay according to his contract , the mortgagee shall have a right to cause the mortgaged property to be sold and the proceeds of sale to be applied , so far as may be necessary , in payment of the mortgage – money ,the transaction is called a simple mortgage.
  3. Mortgage by Conditional Sale: Where the mortgagor ostensibly sells the mortgaged property-:

 On condition that on default of payment of the mortgage- money on a certain date             the sale shall become absolute

On condition that on such payment being made the sale shall become void

On condition that on such payment being made the buyer shall transfer the property to the seller.

The transaction is called a mortgage by conditional sale.

  • Usufructuary Mortgage: Where the mortgagor delivers possession or expressly or by implication binds himself to deliver possession of the mortgaged property to the mortgagee , and authorizes him to retain such possession until payment of the mortgage – money , and to receive the rents and profits and to appropriate the same in lieu of interest , or in payment of the mortgage – money , or partly in lieu of interest or partly in payment of the mortgage – money , the  transaction is called a usufructuary mortgage.
  • English Mortgage: Where the mortgagor binds himself to repay the mortgage – money on a certain date, and transfers the mortgaged property absolutely to the mortgagee, but subject to a proviso that he will re – transfer it to the mortgagor upon payment of the mortgage – money as agreed, the transaction is called English mortgage.
  • Mortgage by deposit of title deeds: Where a person in any of the following towns , namely , the towns of Calcutta , Madras and Bombay , and in any other town which the State Government concerned may , by notification in the official gazette, specify in this behalf , delivers to a creditor or his agent , documents of title to immovable property , with intent to create a security thereon , the  transaction is called a mortgage by deposit of title deeds.
  • Anomalous Mortgage: A mortgage which is not a simple mortgage, a mortgage by conditional sale , an usufructuary mortgage , an English mortgage or a mortgage by deposit of title deeds within the meaning of this section is called an anomalous mortgage.


  1. Transfer of Property Act – Dr. R.K. Sinha – Central Law Agency

Aishwarya Says:

I have always been against Glorifying Over Work and therefore, in the year 2021, I have decided to launch this campaign “Balancing Life”and talk about this wrong practice, that we have been following since last few years. I will be talking to and interviewing around 1 lakh people in the coming 2021 and publish their interview regarding their opinion on glamourising Over Work.


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In the year 2021, we wrote about 1000 Inspirational Women In India, in the year 2022, we would be featuring 5000 Start Up Stories.

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