Mera Samvidhaan All of Transfer of Property Act, 1882

Chapter IV · Of Mortgages of Immoveable Property and Charges

59Mortgage when to be by assurance.

Section 59 · Chapter IV · page 24 of the Act

Where the principal money secured is one hundred rupees or upwards, a mortgage 5[other than a mortgage by deposit of title-deeds] can be effected only by a registered instrument signed by the mortgagor and attested by at least two witnesses. Where the principal money secured is less than one hundred rupees, a mortgage may be effected either by 6[a registered instrument] signed and attested as aforesaid, or (except in the case of a simple mortgage) by delivery of the property.

7* * * *

5 Ins. by Act 20 of 1929, s. 20.

6 Subs. by Act 6 of 1904, s. 3, for “an instrument”.

7 Third paragraph omitted by Act 20 of 1929, s. 20.

Section 59 of The Transfer of Property Act, 1882 is reproduced in full above, as printed by India Code, with its footnotes and amendment markers. Read the whole Act, or browse every Act on Mera Samvidhaan.