English Mortgage
Legal definition for Indian law research
Definition
English mortgage, Where the mortgagor binds him-self 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 retransfer in to the mortgagor upon payment of the mortgage-money as agreed, the transaction is called an English mortgage, Narayandas Karsondas v. S.A. Kamtam, (1977) 3 SCC 247: AIR 1977 SC 774: (1977) 2 SCR 341.
English mortgage 'where the mortgagor binds him-self 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 retransfer it to the mortgagor upon payment of the mortgage-money as agreed, the transaction is called an English mortgage. [Transfer of Property Act, 1882, s. 58(e)]
English mortgage 'where the mortgagor binds him-self 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 retransfer it to the mortgagor upon payment of the mortgage-money as agreed, the transaction is called an English mortgage. [Transfer of Property Act, 1882, s. 58(e)]
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