Sunil BALLB

Sunil BALLB “Serving daily doses of laughter! Memes that slap harder than Monday blues. Follow for vibes, stay for the giggles

20/05/2025

3 Years of law practice /

Shout out to my newest followers! Excited to have you onboard! Gowro Chandro, Rubi Mondal
18/05/2025

Shout out to my newest followers! Excited to have you onboard! Gowro Chandro, Rubi Mondal

Shout out to my newest followers! Excited to have you onboard! Abdul Hannan, Md. Arshad Ali, Pitar Sangma, Reginald Hypp...
01/05/2025

Shout out to my newest followers! Excited to have you onboard! Abdul Hannan, Md. Arshad Ali, Pitar Sangma, Reginald Hyppolite, Najmul Huda, Manjur Rahaman, Satyobikash Chakma, Pinki Paul, Qasir Lail, মৃত্যুর পালকি, MD Cholaiman Islam, Koksi Sg Sangma, Shid Mia

18/03/2025

Arrest without warrant under section 35 to 62

📌 Concept of Mortgage under Section 58 of the Transfer of Property Act, 1882🏡 What is a Mortgage?A mortgage is a legal a...
03/03/2025

📌 Concept of Mortgage under Section 58 of the Transfer of Property Act, 1882

🏡 What is a Mortgage?
A mortgage is a legal agreement where a person transfers an interest in immovable property to a lender as security for a loan. Once the debt is repaid, the property is returned to the owner.

✨ Legal Definition (Section 58(a), TPA 1882)
"A 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."

🔹 Simply put: You pledge your property to get a loan, and once you repay, the property is yours again!

---

🌟 Key Features of a Mortgage

✅ Transfer of Interest – Ownership is not transferred, only a limited interest is given to the lender.
✅ Specific Immovable Property – The mortgage applies only to a particular land, house, or real estate.
✅ Security for Debt – The main purpose is to secure a loan or financial obligation.
✅ Right to Redemption – Once the borrower repays the loan, the property must be returned.
✅ Legal Documentation – A mortgage must be in writing and registered if required by law.

---

🏆 Types of Mortgages under Section 58

1️⃣ Simple Mortgage – Property is mortgaged without possession; lender can sell if the loan is unpaid.
2️⃣ Mortgage by Conditional Sale – Sale with a condition to return upon repayment.
3️⃣ Usufructuary Mortgage – The lender takes possession and earns rent or profits instead of interest.
4️⃣ English Mortgage – Full transfer of property with a promise to return after repayment.
5️⃣ Mortgage by Deposit of Title Deeds – Borrower gives title deeds as security (common in banks).
6️⃣ Anomalous Mortgage – Any mortgage that does not fall into the above categories.

---

📌 Why is Mortgage Important?
🔹 Helps individuals and businesses secure loans without losing ownership immediately.
🔹 Provides legal protection to both borrower and lender.
🔹 Ensures repayment of debts while keeping the property as security.


These are two landmark cases of supreme court 1. First is, on adverse possession 2. 2nd is, on Power of high court and s...
02/03/2025

These are two landmark cases of supreme court
1. First is, on adverse possession
2. 2nd is, on Power of high court and session court about granting bail or refusal of bail.

Address

Bettiah

Website

Alerts

Be the first to know and let us send you an email when Sunil BALLB posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

Share

Category