LawDistill

59. Mortgage when to be by assurance.

9 judgments cite this provision SC

Where the principal money secured is one hundred rupees or upwards, a mortgage [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 [a registered instrument] signed and attested as aforesaid, or (except in the case of a simple mortgage) by delivery of the property.

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