The transferor is called a ‘mortgagor[3]’, the transferee a ‘mortgagee[4]’, the principal money and interest of which payment is secured for the time being is called the ‘mortgage money[5]’ and the instrument (if any) by which the transfer is effected is called ‘mortgage-deed[6]’.

In short, ‘mortgage’ is the transfer of an interest by way of security in specific immovable property[7]. In a mortgage, property ownership remains with the mortgagor, but some interests transfer to the mortgagee.

II. Essentials of mortgage[8]:-

To constitute the following mortgage elements must be present viz-

1) Transfer of an interest[9]:-

A mortgage is a transfer of interest in an immovable property. ‘Sale’ is the transfer of all or bundle of rights in a property, but in a mortgage, only limited rights (i.e. interests) are transferred, such as the right to sell property if mortgage money is not paid, the right to possession, etc.

2) Specific immovable property[10]:-

The interest proposed to be transferred must be in some specific immovable property. Therefore, in the mortgage deed, the property must be defined specifically and not in general terms.

Moreover, the property in which interest is proposed to be transferred must be immovable property.

3) Purpose of mortgage/ consideration[11]:-

Like other contracts, in mortgage also, there shall be a consideration. In a mortgage, consideration may be either money advanced or to be advanced by way of loan, existing or future debt or the performance of an engagement giving rise to a pecuniary liability.

III. Kinds of mortgages (S. 58):-

There are the following kinds of mortgages contemplated by the Act.

1) Simple mortgage[12]:-

When-

Without delivering possession of the mortgaged property,
The mortgagor binds himself personally to pay the mortgage money, and
Agree expressly or impliedly that- in the event of his failure to pay according to the contract, the mortgagee shall have a right to cause the mortgaged property to be sold and the proceeding of the sale to be applied, so far as may be necessary for the payment of the mortgage money.

Thus, possession of the property remains with the mortgagor in the simple mortgage, and he personally undertakes to pay the mortgage money. He further agrees that in case of his default in payment of mortgage money, the property may be sold by the mortgagee under the order of the court.

In case of a default in payment of mortgage money, the mortgagee must move to the court to seek a decree to sell the property. After getting a decree, he can proceed to sell the property.

The proceeds of the sale will be used to pay off outstanding debt along with interest thereon; if any balance remains in the hand of the mortgagee after selling the mortgaged property, it needs to be paid back to the mortgagor.

2) Usufructuary mortgage[13]:-

Where the mortgagor:-

Delivers possession or expressly or by implication binds himself to deliver possession of the mortgaged property to the mortgagee and
authorises him to retain such possession until payment of the mortgage money and
to receive the rents and profits accruing from the property or any part of such rents and profits and
to appropriate the same in lieu of interest or 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.

Thus, from the above definition, we may lay down the following ingredients of the usufructuary mortgage, viz.

There is the delivery of possession to the mortgagee.
The mortgagee has to retain possession until the repayment of mortgage money and interest thereon.
He mortgagee has to appropriate the rents and profits accruing from the mortgaged property towards the principal mortgage money and interest thereon.
If the loan is repaid or discharged by the appropriation or rents and profits, then the property is redeemed[14].
There is no personal liability of the mortgagor, and there is no remedy available by way of sale or foreclosure to the mortgagee.
In the case of a usufructuary mortgage, if the amount or consideration is more than Rs. 100/-, it’s, registration is necessary. However, in other cases mortgage is completed merely by delivery of possession.

Rights of usufructuary mortgagee:-

In the case of a usufructuary mortgage, the mortgagee cannot sue the mortgagor for sale nor for foreclosure. He has remedy only to retain possession of the property till payment of mortgage money and to appropriate rents and profits of the property till full realisation of principal money and interest thereon.

Rights of mortgagor:-

(1) As per S. 62, the usufructuary mortgage or has a right to recover possession of the mortgaged property from the mortgagee-

If the mortgagee is authorised to appropriate mortgage money and interest thereon from the rents and profits of the property and the amount is fully paid,
If the mortgagee is authorised to appropriate mortgage money and interest thereon from the rents and profits of the property for a specific period and the period has expired.

If the mortgagor pays the mortgage money or balance of it to the mortgagee or deposits it in the court,

(2) Right to get accession to the mortgaged property[15] (S. 63):-

Where the mortgaged property in possession of the mortgagee has, during the continuance of the mortgage, received any accession, the mortgagor, upon redemption, will be entitled to such accession as against the mortgagee. However, this right is subject to the contract to the contrary.

3) Mortgage by conditional sale[16]:-

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

on condition that on such payment being made, the buyer shall (re)transfer the property to the seller (mortgagor),

-the transaction is called the mortgage by conditional sale.

Provided that no such transaction shall be deemed to be a mortgage unless the condition is embodied in the document which effected or purports to effect the sale.

However, in such a case, it becomes very important to decide whether the transaction is of a mortgage by conditional sale or of the actual sale.

‘Ostensible sale’ means ‘a sale which appears like a sale but in reality, it is a security for a debt and not a sale.

If a condition of reconveyance is found in ostensible sale, it is a case of mortgage by conditional sale.

However, in a mortgage by conditional sale, no possession of the property is transferred from the mortgagor. The mortgagee can only claim the property as the absolute owner in case of default of repayment on the due date by the mortgagor. However, the right of the absolute owner can only be enforced by a conditional sale; the mortgagee neither acquires a personal right against the mortgagor nor becomes entitled to the possession of the property. However, the mortgagee does not become owner merely by default in payment by the mortgagor but by the decree of foreclosure[17].

In Ismail Khatri v. Muljibhai Brahmabhatt[18]

Facts- the first part of the deed contained a provision for outright sale, and the second part contained a provision for redemption.

Issue- whether the transaction is of sale or mortgage by conditional sale.

Gujrat High Court held- that the document must be read as a whole and, therefore, the transaction is of a mortgage by conditional sale.

Proviso to the section provides that the transaction is not a conditional sale unless the condition is embodied in the document.

Conditions for effecting mortgage by conditional sale are as follows:-

The deed must be registered if it secures an amount of more than Rs. 100. It must also be attested at least by two witnesses.
But where the deed secures an amount of less than Rs. 100, the deed may be executed as above or just by delivery of the property.

4. English mortgage:-

Where the mortgagor (i) binds himself to repay the mortgage money on a certain date, and (ii) transfers mortgaged property absolutely to the mortgagee, (iii) but subject to the proviso that he will re-transfer it to the mortgagor upon payment of the mortgage money as agreed

-the transaction is called an “English mortgage:”

The mortgagee’s remedy in such a case is to sell the property without permission or a court decree. However, he is not entitled to foreclosure.

In fact, in a mortgage, there is no ‘absolute transfer’ as mentioned in the definition; in all types of mortgages, there is the transfer of an interest in the property and not the whole property. There is an absolute transfer in’ sale’, but not in the mortgage.

a) Difference between English Mortgage and Simple mortgage:-

1) Transfer of property:-

In ‘English mortgage’, the property is transferred absolutely to the mortgagee.

In a Simple mortgage, only the right of sale and not the actual property is transferred.

2) Enter into possession:-

In an ‘English mortgage’, the mortgagee has the right to immediately take possession of the mortgaged property.

In a ‘Simple mortgage’, the mortgagee has no such right to enter into possession.

3) Right to sale:-

In ‘English mortgage’, the mortgagee sometimes has a right to sell the mortgaged property even without the intervention of the court.

In a simple mortgage, the mortgagee cannot sell the property without the intervention of the court.

b) Difference between ‘English mortgage’ and ‘usufructuary mortgage’:-

1) Personal Undertaking:-

An English mortgage has a personal liability to repay the loan.

A usufructuary mortgage has no personal liability to repay the loan.

2) Transfer of property:-

In an English mortgage, the property is absolutely transferred to the mortgagee upon the condition that it be retransferred upon repayment of the loan amount.

In a usufructuary mortgage, only possession of the mortgaged property is transferred to the mortgagee, and he can retain the same till he gets his debt repaid.

3) Sale of the property:-

In English, a mortgage mortgagee can sue for sale and, in certain cases, even without the intervention of the court.

In a usufructuary mortgage, the mortgagee cannot sue for the sale of the property.

c) Difference between ‘English mortgage’ and ‘mortgage by conditional sale’:-

1) Personal liability:-

In an English mortgage, the mortgagor personally undertakes to repay the loan.

Meanwhile, in a ‘mortgage by conditional sale’, the mortgagor has no personal undertaking of repayment.

2) Nature of sale:-

In English mortgage, the mortgaged property is absolutely conveyed to the mortgagee with the condition of reconveyance at the time of mortgage debt repayment.

In the case of a mortgage by conditional sale, the sale is ostensible and not absolute. It becomes absolute only after the court obtains the decree of foreclosure.

3) Right of possession:-

In an English mortgage, the mortgagee has the right to immediate possession of the property.

In a mortgage by conditional sale, the mortgagee does not have a right of immediate possession of the mortgaged property.

4) Conversion into:-

In an English mortgage, the absolute conveyance is converted into a mortgage, and vice versa; in a mortgage by conditional sale, the mortgage is converted into an absolute sale by the court’s decree of foreclosure.

5) Remedy:-

In an English mortgage, the ultimate remedy available to the mortgagee is a sale, whereas, in a mortgage by conditional sale, the ultimate remedy available is a sale with a court’s decree of foreclosure.

6) Mortgage by Deposit of title deeds[19]:-

A mortgage by deposit of title deeds is also known as an ‘Equitable mortgage’.

Where a person:-

In the towns of Calcutta, Madras, Bombay, and any other town specified by the State Government concerned on this behalf, by notification in the official Gazette.
Delivers to a creditor or his agent documents of title to immovable property,
With the intent to create security, thereon
The transaction is called a mortgage by deposit of title deeds. In this kind of mortgage, execution of a mortgage deed or its registration is not necessary (S. 59). There is merely a deposit of the title deed of a property by a mortgagor to the mortgagee.

In this case, the mortgagee’s remedy is to file suit to seek permission for sale and for mortgage money (S. 96). The mortgagee is not entitled to foreclosure.

The mortgagor’s remedy is to file a suit for redemption. He cannot file a suit for recovery of title deeds.

5) Anomalous Mortgage[20]:-

A mortgage that is not a simple mortgage, a mortgage by conditional sale, a usufructuary mortgage, an English mortgage, or a mortgage by deposit of title deeds within the meaning of the section is called an anomalous mortgage.

In fact, an anomalous mortgage is a residuary kind of mortgage. It covers[21].

IV. Rights and liabilities of mortgagor:-

1) Right of mortgagor to redeem[22] (S. 60):-

60 incorporates a very important right of the mortgagor, i.e., the right of redemption.
60 lays down that-

At any time principal money has become due, the mortgagor has a right to payment of mortgage money at a proper place and time to require the mortgagee-

To deliver to the mortgagor the mortgage deed and all documents relating to the mortgaged property.
To deliver possession of the property to the mortgagor where the mortgagee is in possession of it,
To re-transfer the property to the mortgagor or any third person directed by him at his cost or to register an acknowledgement in writing of the extinction of the mortgagee’s right[23].

However, the above right cannot be exercised if extinguished by the (i) act of the parties or (ii) by decree of a court.

The right conferred by this section, i.e. S. 60, is called a ‘right to redeem’, and a suit to enforce it is called a suit for redemption.

The condition in the mortgage deed as to prior notice of redemption to the mortgagee is valid.

The right conferred by S. 60 is a statutory right. The right of redemption cannot be fettered by any condition that prevents redemption. It is very important for the mortgagor to pay off the mortgage money and get his property back.

Redemption of a portion of mortgaged property[24]:-

Generally, the mortgage debt being indivisible and mortgage property being held in its entirety as security for the whole debt, the property cannot be redeemed in part by the part owner or person having a part interest in the mortgaged property. In other words, the property can be redeemed in its entirety as payment of the whole debt.

However, the above bar does not apply when the whole or part of the mortgagor’s share is transferred or acquired by any of the mortgagees. In such a case, even such a mortgagee who has acquired the share of one of the mortgagors can redeem that part from the mortgagee.

For example, if A and B, who are joint owners of the property, mortgage the property for Rs. 20000/- to X. Here, if A wants to get his portion of the mortgaged property redeemed by paying his portion of the debt of Rs. 10,000/-. He cannot do so. This is because the debt and mortgaged property are held in their entirety and cannot be separated.

But if A transfers or sells his share to Y, then Y can redeem his share from Z.

‘Once a mortgage, always a mortgage[25]’:-

The dictum ‘once a mortgage, always a mortgage’ suggests that the right of redemption is an indefeasible right which cannot be made irredeemable.

The mortgagor can redeem the mortgage at any time after the mortgage money has become due. Before the period is fixed, neither the mortgagor nor the mortgagee can insist on redemption or ask for foreclosure.

Thus, the right of redemption recognised under the T.P. Act is a statutory and legal right which cannot be extinguished by any agreement made at the time of the mortgage. Being the owner, the right to redeem is a very valuable right passed by the mortgagor. Such right to redeem the mortgage can be exercised before it is foreclosed or the estate is sold. ‘Once a mortgage, always a mortgage’ because the mortgagor, being the owner, transfers limited rights from the property to the mortgagee. Therefore, the right of redemption subsists as long as the mortgage subsists.

Clog on redemption[26]:-

As we have discussed above, the principle ‘once a mortgage, always a mortgage’ means the right of redemption is irresistible. The right of redemption continues till the decree of foreclosure and actual sale by the mortgagee. Thus, the right to foreclosure continues even after the mortgagor fails to pay the debt by the due date. Thus, the nature of the right of redemption is absolute. Any provision in the mortgage deed that prevents or impedes the right of redemption is void and is called a ‘clog on redemption’.

In Stanley Vs. Wilde[27]

Justice Lindley observed that “any provision inserted in the mortgage deed, which prevents or impedes the right of redemption after payment of mortgage debt is known as clog or fetter on the equity of redemption and is, therefore, void. It means ‘once a mortgage, always a mortgage’.

Thus, the ‘clog on redemption’ implies the time at which the mortgage deed is entered into by the parties. The concept does not apply to subsequent varying terms by the parties. In other words, while entering into a mortgage deed itself, the parties’ condition or fetter right of redemption amounts to a ‘clog on redemption’ and, therefore, void. But if parties later vary terms so as to act as a clog, it does not amount to a ‘clog on redemption’. It means subsequent varying conditions of deed fettering right of redemption are void.

Murarilal V. Devkaram[28]

Facts- The mortgage deed provided that the mortgage must be redeemed within 15 years. If it is not redemption within 15 years, the mortgagee will become the absolute owner of the property.

Supreme Court observed- that a mortgage cannot be made irredeemable, and the right of redeemed also cannot be made illusory or superfluous. ‘Once a mortgage always as mortgaged’.

Modes of exercise of the right of redemption:-

The mortgagor can exercise the right of redemption after the due date or mortgage money has become due. The mortgagor can (i) pay or tender mortgage money at a proper time and place to the mortgagee (S. 60). (ii) deposit mortgage money in court (S. 83). (iii) file suit for redemption.

Persons who may sue for redemption (S. 91):-

As per S. 91, besides the mortgagor, the following person may also redeem the mortgaged property, viz.

Any person other than the mortgagee who has any interest in the mortgaged property or any charge upon the mortgaged property or the right to redeem the same.
Any surety for the payment of the mortgage debt or any part thereof; or
Any creditor of the mortgage who has in a suit for the administration of his estate obtained a decree for the sale of the mortgaged property.

Extinguishment of the right of redemption (S. 60):-

The right of redemption extinguishes-

By the subsequent act of the parties extinguishing the right of redemption, or
By the decree of foreclosure by the court.

2) Right to get the property transferred to a third party (S. 60 A):-

The mortgagor may require the mortgagee to transfer mortgaged property to a third person instead of himself. The mortgagee is bound to do so.

3) Right to inspection and production of documents (S. 60 B):-

Mortgagor shall be entitled at all reasonable times, at his request and at his own cost, to inspect and make copies or abstracts of documents of title relating to the mortgaged property which are in the custody or power of the mortgagee.

4) Right to redeem separately or simultaneously (61):-

A mortgagor who has executed two or more mortgages in favour of the same mortgagee shall, in the absence of a contract to the contrary, when the principal money of any two or more of the mortgages has become due, be entitled to redeem any one of these mortgages separately, or any two or more of such mortgages together.

5) Right of usufructuary mortgagor to recover possession (S. 62):-

In the case of a usufructuary mortgage, the mortgagor has a right to recover possession of the property together with the mortgage deed and all documents relating to the mortgaged property which are in the possession or power of the mortgagee.

6) Receive accession to the mortgaged property[29] (S. 63):-

Where the mortgaged property in possession of the mortgagee has, during the continuance of the mortgage, received any accession, the mortgagor, upon redemption, shall, in the absence of the contract to the contrary, be entitled as against the mortgagee to such accession.

Accession means an addition or improvement leading to the expansion of or benefit of the mortgaged property, such as the growing of trees, increase of F.S.I (of construction), repairs of property, etc.

7) Improvements to mortgaged property (S. 63 A):-

Where the mortgaged property in possession of the mortgagee has, during the continuance of the mortgage, been improved, the mortgagor, upon redemption, shall (in the absence of the contract to the contrary) be entitled to the improvement, and the mortgagor shall not, (save only in cases provided for in Sub-sec (2)), be liable to pay the cost thereof.

8) Benefit of a new lease (S. 64):-

Where the mortgaged property is a lease, and the mortgagee obtains a renewal of the lease, the mortgagor, upon redemption, shall (in the absence of a contract by him to the contrary) have the benefit of the new lease.

In the absence of a contract to the contrary, the mortgagor shall be deemed to contract with the mortgagee that the interest that the mortgagor professes to transfer to the mortgagee subsists and that the mortgagor has the power to transfer the same.

9) Mortgagor’s power to lease (S. 65 A):-

Subject to certain provisions, a mortgagor who is lawfully in possession of the mortgaged property has the power to make a lease that is binding on the mortgagee.

10) Mortgagor is not liable for waste (S. 66):-

A mortgagor in possession of the mortgaged property is not liable to the mortgagee for allowing the property to deteriorate, but he must not commit any act that is destructive or permanently injurious to the property if the security is insufficient or will be rendered insufficient by such act.

V. Liabilities of a mortgagor:-

Liabilities for implied contracts (S. 65):-

S. 65 implies some condition, assured by the mortgagor, on the failure of which the mortgagor is liable.

S. 65 lays down that, in the absence of a contract to the contrary, the mortgagor shall be deemed to contract with the mortgagee:-

a) that the interest which the mortgagor professes to transfer to the mortgagee subsists, and the mortgagor has the power to transfer the same.
b) that the mortgagor will defend, or if the mortgagee is in possession of the mortgaged property, enable him to defend the mortgagor’s title
c) that the mortgagor will, so far as the mortgagor is in possession of the mortgaged property, pay all public charges accruing due with respect to the property.
d) that if the property mortgaged is a lease, the mortgagor pays all rents on it.
e) that if the mortgage is a second or subsequent encumbrance on the property, the mortgager will pay the interest from time to time, accruing due on each prior encumbrance.

VI. Rights and liabilities of mortgagee:-

A) Rights of mortgagee:-

1) Right to foreclosure or sale (S. 67):-

67 lays down that- at any time (i) after the mortgage money has become due, and (ii) before a decree has been made for the redemption of the mortgaged property, or (iii) the mortgage money has become paid or deposited,

– the mortgagee has a right to obtain from the court a decree that-

(i) The mortgagor shall be absolutely debarred of his right to redeem that property or

(ii) the property be sold.

A suit to obtain a decree that a mortgagor shall be absolutely debarred of his right to redeem the mortgaged property is called a ‘suit for foreclosure’.

The mortgagor’s right of redemption and the mortgagee’s right of foreclosure are co-extensive; when one is present, another is not.

The mortgagee would not get a decree of foreclosure or sale if-

(i) Mortgagor pays or deposits in court mortgage money after it becomes due; or

(ii) Mortgagor has obtained a decree of redemption.

In other words, the mortgagor must have failed to do the above acts to enable the mortgagee to file suit either for foreclosure or sale.

In Ramesh Kumar v. Yashpal Batra[30]

The court held that if the mortgagee does not redeem the mortgage within the stipulated period, the mortgagee does not automatically become the owner of the mortgaged property.

The mortgagor must file suit for recovery of mortgage money within a 12-year limitation period; if he fails to do so, he cannot claim ownership.

The mortgagor’s right of redemption is an absolute right, whereas the right of foreclosure is conditional or qualified. There may be a contract to the contrary on the right of foreclosure, but there cannot be any limitation on the right of redemption.

‘Foreclosure’ and ‘sale’ are the remedies available to the mortgagee. The availability of these remedies depends upon the type of mortgage.

1. Simple mortgage:-

In a simple mortgage, the mortgagee cannot sue for foreclosure. The simple mortgagee has two remedies available, i.e. (i) he can sue for recovery of mortgage debt, or (ii) he can sue for a decree of sale of the mortgaged property.

2. Usefructory mortgage:-

Being in possession of the mortgaged property and enjoying usufruct, the usufructuary mortgagee can neither sue for sale nor foreclose the mortgage.

3. Mortgage by conditional sale:-

A mortgage by conditional sale is converted into an automatic sale after the due date. In such a case, the remedy available to the mortgagee is to wait until the redemption limitation period passes.

4. Mortgage by deposit of mortgage deeds:-

In ‘mortgage by deposit of title deeds’ or ‘equitable mortgage’, the remedy available to the mortgagee is the same as that of a ‘simple mortgagee’. This means that the mortgagee can file a suit for the sale of a mortgaged property.

5. Anomalous mortgage:-

Since an ‘anomalous mortgage’ is a combination of two or more types of mortgages, the remedy of the mortgagee depends upon conditions in the deed. He may have both remedies, i.e., sale and foreclosure, or any of these.

2) Right to sue for mortgage money (S. 68):-

The mortgagee has a right to sue for mortgage money in the following cases viz-

a) Where the mortgagor binds himself to repay the same.
b) Where the security of mortgaged property falls short and the mortgagor has failed to provide further security.
c) Where the mortgagee is deprived of the whole or part of his security by or in consequence of the wrongful act or default of the mortgagor.
d) Where the mortgagee is entitled to possession of the mortgaged property, the mortgagor fails to deliver the possession, therefore.

3) Right to sell (S. 69):-

The mortgagee has the right to sell the property mortgaged in some cases, as discussed above and under S. 69.

4) Right to appoint a receiver (S. 69 A):-

The mortgagee, having the right to exercise the power of sale, is entitled to appoint a receiver of the income of the mortgaged property or any part thereof subject to certain conditions.

5) Right to accession (S. 70):-

Suppose any accession is made to the mortgaged property after the date of the mortgage. In that case, the mortgagee, in the absence of a contract to the contrary, shall, for security, be entitled to such accession.

6) Right to the renewal of mortgaged lease (S. 71):-

When the mortgaged property is a lease, and the mortgagor obtains a renewal of the lease, the mortgagee, in the absence of the contract to the contrary, shall, for the purpose of security, be entitled to a new lease.

7) Rights of mortgagee in possession (S. 72):-

The mortgagee in possession of the mortgaged property has the right to spend and recover money for preserving the property from destruction, for supporting the mortgagor’s title, etc.

8) Right to proceeds of revenue sale[31] or compensation on acquisition (S. 73):-

The mortgagee has the right to the proceeds of revenue sale without his default and to recover mortgage money from the compensation on compulsory acquisition.

VII. Liabilities of mortgagee in possession (S. 76):-

When, during the continuance of the mortgage, the mortgagee takes possession of the mortgaged property, he has the following liabilities, viz-

(i) As to management:-

The mortgagee should manage the property as a person of ordinary prudence would manage it if it were his own.

(ii) Collection of rent and profits:-

The mortgagee should use his best endeavour to collect the rent and profits from the mortgaged property.

(iii) Public charges and Rents:-

The mortgagee must, in the absence of a contract to the contrary, out of the income of the property, pay

the Government revenue,
all other charges of a public nature and
all rent accruing due in respect thereof during such possession, and
any of rents in default of the payment of which the property may be summarily sold.

(iv) Make necessary repairs.

(v) Must not do such act which is destructive or injurious to the property.

(vi) Apply for insurance amount to reinstate property destroyed.

(vii) He must keep clear, full and accurate accounts of all sums received and spent by him as mortgagee.

(viii) Duty after tender or deposit of mortgage money:-

Mortgagee in possession after tender or deposit of mortgage money has to account for rents and profits received. However, the mortgagee is not entitled to deduce any amount from such collection on account of any expenses incurred after such date or time in connection with the mortgaged property.

*****

[1] गहान [गिरवी रखना]

[2] गहाण म्हणजे विषिष्ठ स्थावर मिळकतीमधिल काही अधिकारांचे- 1. दिलेल्या अथवा देऊ केलेलया कर्जाचे परत फेडीपोटी, अथवा 2. अस्तीत्वात असलेल्या अथवा भविष्यातील कर्जाचे परत फेडीपोटी, अथवा 3. ज्यामुळे अर्थिक जबाबदारी उद्भवते -अषा कराराच्या पुर्तते पोटी हमी म्हणुन हस्तांतरण [“गिरवी” कुछ हित का हस्तांतरण है। जो (i) विशिष्ट अचल संपत्ति में (ii) (निम्नलिखित कोs) सुरक्षित करने के उद्देश्य से- (ए) पहले दिये गये कर्जे का भुगतान या अब दिये जानेवाले कर्ज का भुगतान (बी) एक मौजूदा या भविष्य का कर्ज, या (सी) एक वचनबन्ध का पालन करणे के लिये जो एक आर्थिक दायित्व को बढ़ा सकता है।]

[3] गहाण देणार [गहाण’ देनेवाला]

[4] गहाण घेणार [गहाण’ लेनेवाला/ बँकj]

[5] गहाण’ रक्कम [गिरवी धन]

[6] गहन खत [गहाण का दस्तावेज/ बंध-पत्र]

[7] ‘गहाण’ विशिष्ट अचल संपत्ति में से एक हित का हस्तांतरण है|

[8] गहाणासाठीच्या अवश्यक बाबी [गहाण कि आवशकता]

[9] मर्यादीत अधिकारांचे हस्तांतरण [सीमित हित का हस्तांतरण]

[10] विशिश्ठ अचल मालमत्ता [विशिष्ट अचल संपत्ति]

[11] गहाणाचा उद्देष / मोबदला [गहन का उद्देश्य]

[12] साधे गहाण

[13] फालोपभोगी गहाण

[14] गहाण सोडविने [गिरवी से छुटकारा]

[15] झालेली वाढ,[गहाण सम्पत्ती मे हुई वृद्धी पाने का अधिकार]

[16] सशर्त विक्री [सशर्त बिक्री द्वारा गहाण]

[17] गहाण रद्द करने/ मुदतपुर्व बंद [गहाण देनेवालेका हक्क नष्ट करणे का हुकुम]

[18] AIR 1994 Guj 8

[19] मालकी हक्कांची कागदपत्रे ताब्यात देउन गहाण [स्वामित्व विलेख के गहाण रखनेसे]

[20] उपर दिये गुये किसी भी वर्ग मे न आनेवालाद्ध वरील कोतनत्याही प्रकारात न मोडनारा, [पहले बताये गहाण से अलग/ वर्गविहीन गिरवी]

[21] परंपारीक गहाण की जीं कायदयापुर्विपासुन चालत आलेली आहेत [प्रथागत गहान-]

[22] गहाण सोडविण्याचा अधिकार [ गिरवी छुडाने का अधिकार]

[23] गहाण संपुश्टात अननारा करार [गिरवी छुडाने का करार]

[24] गहाण मिळकतीच्या काही भागाची सोडवणुक [गिरवी रखी गई संपत्ति के हिस्से को छुडाना]

[25] एकदा केलेले गहाण हे कायम गहाणच असत [एक बार एक गिरवी हमेशा हमेशा के लिये गिरवी होता है|s-]

[26] गहाण सोडवणुकीतील अडथळा [गहाण छुडानेमेकी दिक्कते]

[27] (1899) 2 Ch 474

[28] AIR 1965 SC 225

[29] गहाण मिळकतीत झालेली वाढ [गिरवी रखी गई संपत्ति में वृद्धी-]

[30] AIR 2006 Del 286

[31] थकीत महसुल वसुलीसाठी विक्री [गिरवीदार को अपनी चूक के बिना, राजस्व बिक्री मे हुये आय का अधिकार है]