English Mortgage (Under Transfer Of Property Act And Registration Act)
- IJLLR Journal
- Jan 9
- 1 min read
Sparsh Narayan, Symbiosis Law School, Noida
ABSTRACT:
The aim of this research is to figure out English Mortgages in line with Indian property law and to study the application of English Mortgages in Indonesia particularly by analyzing the Regulation of the Property Act 1882. An English Mortgage means that the owner of the property gives the lender the right of ownership as security for the loan, and the lender also gives a promise to return it when the loan is paid back. This research looks into the legal framework and compliance for English Mortgages, underscoring the sections 58(e) and 69 of the Transfer of Property Act. It brings out the vital points of English Mortgages in India, which are: the court's power of sale is not required and the high costs and inflexible repayment terms are the main factors. A comparison with other types of mortgages delineates the perks and pitfalls of English Mortgages. The robustness of English Mortgages is, however, their popularity in India is lower due to their financial burden and inflexibility. The paper ends with suggestions for the improvement of English Mortgages so that they are easier and more flexible. The topics for future research cover looking into the influence of hi-tech, socio-economic condition, and new judicial interpretations.
Keywords: English Mortgage, Transfer of Property Act 1882, Indian property law, mortgage types, legal framework, comparative analysis, judicial interpretation, property transactions.
