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CHANAKYA NATIONAL LAW UNIVERSITY

ROUGH DRAFT SUBMITTED IN THE FULFILMENT OF THE COURSE

“Property Law”

TITLED-

“Mortgage By Conditional Sale”

Submitted To:-

Dr. Vijay Kumar Vimal

Submitted By:-
Pratyush Kumar
Roll No:-1751
Semester: - 3rd

Session: - 2017-2022
INTRODUCTION

A mortgage is a method of creating charge on immovable properties like land and building.
Section 58 of the Transfer of Property Act 1882, defines a mortgage as follows:

"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
the payment of which is secured for the time being are called the mortgage money and the
instrument by which the transfer is effected is called the mortgage deed.

FORMS OF MORTGAGES:-

Section 58 of the Transfer of Property Act enumerates six kinds of mortgages:

(b) Simple Mortgage.

(c)Mortgage by Conditional Sale.

(d)Usufructuary Mortgage.

(e)English Mortgage.

(f)Mortgage by Deposit of Title Deeds or Equitable Mortgage

(g)Anomalous mortgage.

In mortgage by conditional sale, the mortgager ostensibly sells the property to the mortgagee
on the following conditions:

(i) The sale shall become void on re-payment of the mortgage money.

(ii) The mortgagee will retransfer the property on payment of the mortgage money.

(iii)The sale shall become absolute if the mortgager fails to repay the amount on a certain
date.

(iv) The mortgagee has no right of sale but he can sue for foreclosure.
AIMS AND OBJECTIVES

 To study what is mortgage.

 To differentiate between mortgage by conditional sale and other forms on mortgage.

RESEARCH METHODOLOGY

This project is based mainly and heavily on written text material. It is based on the doctrinal
method of research. The segments are structured and written actively. The writing style is
descriptive as well as analytical. This project has been done after a thorough research based upon
intrinsic and extrinsic aspect of the assigned topic. The doctrinal method in this research paper
refers to various books, articles, news paper, magazine, Dictionary. In this research paper, the
researcher will only use Doctrinal method.

SOURCES OF DATA

The researcher will be relying on both primary and secondary sources to complete the project.

1. Primary Sources : Books.

2. Secondary Sources :Material available on the internet.

TENTATIVE CHAPTERIZATION

1. Introduction
2. Mortgage meaning
3. Mortgage by conditional sale
4. Essentials of mortgage by conditional sale:
5. Examples of mortgage by conditional sale:
6. Table of cases
7. Conclusion, criticism & suggestion
LIMITATIONS OF THE PROJECT

The researcher has territorial and monetary limitation in completing the project at hand morever,
taking the time into consideration, the researcher has to rely upon the doctrinal method of
research.

BIBLIOGRAPHY

Book

 Mulla, The Transfer of Property Act, 9th Ed., LexisNexis Butterworths, 2004.

 Nandi, N., The Transfer of Property Act, 1882, 2nd Ed., Dwivedi Law Agency,
Allahabad, 2010.

 Row, Sanjiva, The Transfer of Property Act, 4th Ed., Vol. 1, The Law Book Company

 Sinha, Dr.R.K., The Transfer of Property Act, 11th Ed., Central Law Agency, Allahabad,
2010.

 The Transfer of Property Act, 1882, Bare Act, Universal Law Publishing Co. Pvt. Ltd.,
New Delhi, 2010.

 Vakil, Darashaw J., Commentaries on the Transfer of Property Act, 2nd Ed., Wadhwa and
Company Nagpur, New Delhi, 2004.