{"id":1614,"date":"2024-03-05T15:20:05","date_gmt":"2024-03-05T15:20:05","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=1614"},"modified":"2024-03-05T15:20:05","modified_gmt":"2024-03-05T15:20:05","slug":"under-which-one-of-the-following-sections-of-the-t-p-act-english-mortgage-has-been-defined","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/under-which-one-of-the-following-sections-of-the-t-p-act-english-mortgage-has-been-defined\/","title":{"rendered":"Under which one of the following sections of the T.P. Act, English mortgage has been defined?"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Section 58(e)&#8221; option2=&#8221;Section 58(d)&#8221; option3=&#8221;Section 58(g)&#8221; option4=&#8221;Section 58(f)&#8221; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is (a).<\/p>\n<p>Section 58(e) of the T.P. Act defines an English mortgage as a mortgage by deposit of title deeds. This means that the borrower gives the lender the title deeds to the property being mortgaged as security for the loan. The lender is then entitled to sell the property if the borrower defaults on the loan.<\/p>\n<p>Section 58(d) defines a legal mortgage as a mortgage that is created by a deed. This means that the mortgage must be in writing and signed by both the borrower and the lender. A legal mortgage is the most secure type of mortgage, as it gives the lender the right to take possession of the property if the borrower defaults on the loan.<\/p>\n<p>Section 58(g) defines an equitable mortgage as a mortgage that is not created by a deed. This means that the mortgage can be created orally or in writing, but it does not need to be signed by both the borrower and the lender. An equitable mortgage is not as secure as a legal mortgage, as the lender does not have the right to take possession of the property if the borrower defaults on the loan.<\/p>\n<p>Section 58(f) does not define a mortgage.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Section 58(e)&#8221; option2=&#8221;Section 58(d)&#8221; option3=&#8221;Section 58(g)&#8221; option4=&#8221;Section 58(f)&#8221; correct=&#8221;option1&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-1614","post","type-post","status-publish","format-standard","hentry","category-law","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Under which one of the following sections of the T.P. Act, English mortgage has been defined?<\/title>\n<meta name=\"description\" content=\"Section 58(e) of the T.P. Act defines an English mortgage as a mortgage by deposit of title deeds. This means that the borrower gives the lender the title deeds to the property being mortgaged as security for the loan. The lender is then entitled to sell the property if the borrower defaults on the loan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/under-which-one-of-the-following-sections-of-the-t-p-act-english-mortgage-has-been-defined\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Under which one of the following sections of the T.P. Act, English mortgage has been defined?\" \/>\n<meta property=\"og:description\" content=\"Section 58(e) of the T.P. 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The lender is then entitled to sell the property if the borrower defaults on the loan.","og_url":"https:\/\/exam.pscnotes.com\/mcq\/under-which-one-of-the-following-sections-of-the-t-p-act-english-mortgage-has-been-defined\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-03-05T15:20:05+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/under-which-one-of-the-following-sections-of-the-t-p-act-english-mortgage-has-been-defined\/","url":"https:\/\/exam.pscnotes.com\/mcq\/under-which-one-of-the-following-sections-of-the-t-p-act-english-mortgage-has-been-defined\/","name":"Under which one of the following sections of the T.P. 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