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Rights and Liabilities of Mortgagor and Its Kinds | Mortgage |Transfer of Property Act 1882

Assalamualaikum to all, today’s topic is very much important in our life and also in our career. Mortgage..is known to all of us. Today I’ve shared with you definition of mortgage and its kinds and also rights and liabilities of mortgagor. I’ve shown you the easiest way to remember the points to deal with. As we know, a mortgage in itself is not a debt, it is the lender's security for a debt. In other words, the mortgage is a security for the loan that the lender makes to the borrower. I also discussed what is called mortgagor, mortgagee, mortgage money and mortgage deed? The person who transfers the interest is called the mortgagor, the person to whom it is transferred is called the mortgagee; the principal money and interest of which payment is secured for the time being are called the mortgage-money, and the instrument by which the transfer is effected is called a mortgage-deed. Kinds of Mortgage: As per Section 58 of The Transfer of Property Act 1882, deals with the following six kinds of mortgages- 1. Simple mortgage- S.58(b) 2. Mortgage by conditional sale- S.58(c) 3. Usufructuary mortgage-S.58(d) 4. English mortgage- S.58(e) 5. Mortgage by deposit of title deeds-S. 58(f) 6. Analogous mortgage- S.58(g) Rights and Liabilities of a Mortgagor: the mortgagor has 6 rights – 1. Right to redemption. 2. Right to transfer to a third party instead of re-transference to mortgagor 3. Right to inspection and production of documents. 4. Right to accession. 5. Right to grant a lease. 6. Right to reasonable waste. Liabilities of the Mortgagor: Section 65 is the implied liabilities which are laid upon the mortgagor. There are 5 implied contracts which the mortgagor is deemed to enter into with the mortgagee in absence of a contract to the contrary- 1. Covenant for title. 2. Covenant for defense of title. 3. Covenant for payment of public charges. 4. Covenant for payment of rent. 5. Covenant for payment of prior encumbrances. I hope this video will help in our law exams and also in your career. If you want more video then please go to my channel Sadia’s Doctrine and watch more law relating videos. You can search on youtube SEO. You can follow me on tiktok.com/@realjaifa #mortgage #mortgagor #rightsandliabilitiesofmortgagoranditskinds #sadiasdoctrine #section58oftpact #sec66oftpact #sec60oftpact #youtubeseo #rightsofmortgagor #liabilitiesofmortgagor #dutyofmortgagor #definitionofmortgage #righttoredeem #lawstudents #advocates