Transfer of Property Act-Mortgage by conditional sale

Transfer of Property Act–Section 58 (c)–Mortgage by conditional sale–A transaction shall not be deemed to be a mortgage unless condition for reconveyance is contained in document which purports to effect the sale. — Distinction between mortgage by conditional sale and a sale with a condition of repurchase–In a mortgage, debt subsists and a right to redeem remains with debtor, but a sale with Read More…