Usufructuary Mortgage - Law Dictionary Search Results
Home Dictionary Name: usufructuary mortgageUsufructuary mortgage
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 authorise 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 lien 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 an unsurfructuary mortgagee and the mortgagee an unsurfructuary. [Transfer of Property Act (4 of 1882), s. 58(d)]...
Kuzhikanam
Kuzhikanam, 'kuzhikanam' means and includes a transfer of garden lands or of other lands or of both, with the fruit-bearing trees, if any, standing thereon at the time of the transfer, for the enjoyment of those trees and for the purpose of planting such fruit-bearing trees thereon but shall not include a usufructuary mortgage as defined in the Transfer of Property Act, 1882, Kuchiyan Govinda Swami v. Kalliani Amma Lakshmi Amma, AIR 1966 SC 1937 (1938): (1966) Supp SCR 135. [Kerala Land Reforms Act, 1964, s. 2(28)]...
Uses
Uses (History). A use is the intention or purpose, express or implied, upon which property is to be held. The Common Law treated the actual possessor for all purposes as the owner of the property. It was not difficult to find him out, since the possession of his estate was conferred upon him by a formal and notorious ceremony, technically called livery of seisin, which was performed openly and in the presence of the people of the locality.It soon became evident that the simple rules of the Common Law were stumbling-blocks to the complicated wants of an enterprising people.Hence ingenuity was sharpened to hit upon a device which should set at nought the rigidity of existing law and formalities.A system was found by the monastic jurists upon a model furnished by the Civil Law, which, by a nice adaptation, evaded, without overturning, the Common Law. Two methods of transferring realty began to co-exist in this country-the ancient Common Law system, and the later invention, which is denomi...
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