English Mortgage in India:
English Mortgage means ‘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 as English mortgage.
(sec.58(e) of Transfer of
Property Act 1882)
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