Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | mortgage by deposit of title deeds Registration |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Allowed |
Headnote | TRANSFER OF PROPERTY ACT, 1872:ss. 59 and 58(f) - Mortgage and mortgage by deposit oftitle deeds - Discussed.s. 58(f) - Mortgage by deposit of title deeds - Held: Chargeof mortgage can be entered into revenue record in respect ofmortgage by deposit of title-deeds and for that, instrument ofmortgage is not necessary.REGISTRATION ACT, 1908:.s. 17(1)(c) - Registration of instrument creating interest -Mortgage by deposit of title deeds - Held: When debtordeposits with creditor title-deeds of property for the purposeof security, it becomes mortgage in terms of s. 58(f) ofTransfer of Property Act and no registered instrument isrequired u/s. 59 thereof, as in other classes of mortgage -Mortgage by deposit of title-deeds may be effected inspecified towns by debtor delivering to his creditor documentsof title to immovable property with intent to create a securitythereon - No instrument is required to be drawn for thispurpose - However, parties may choose to have amemorandum prepared only showing deposit of title-deeds -In such a case also registration is not required and, therefore,payment of registration fee and stamp duty is not required -Letter of Finance Commissioner would apply in cases where the instrument of deposit of title-deeds incorporates terms andconditions in addition to what flows from the mortgage bydeposit of title-deeds - Transfer of Property Act, 1872 ยท - ss.5B(f) and 59 - Letter dated 29.3.2007 issued by FinanceCommissioner. |
Judge | Hon'ble Mr. Justice C.K. Prasad |
Neutral Citation | 2013 INSC 687 |
Petitioner | State Of Haryana & Others |
Respondent | Navir Singh And Another |
SCR | [2013] 9 S.C.R. 949 |
Judgement Date | 2013-10-07 |
Case Number | 9030 |
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