Mr. X has created a mortgage by way of deposit of title deeds with the secured creditor bank Y. This represents

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Security Receipt
B	Secured Debenture
C	Security Agreement
D	Secured Debt

Explanation:

Detailed explanation-1: -A mortgage by deposit of title deeds is a form of mortgage recognised by S. 58 (f), T. P. Act, which provides that it may be effected in certain towns (including Calcutta) by a person “delivering to his creditor or his agent documents of title to immovable property with intent to create a security thereon.”

Detailed explanation-2: -equitable mortgage by deposit of title deeds.

Detailed explanation-3: -One can raise money by depositing the title deed of an immovable property with a finance company. This is known as equitable mortgage or mortgage through deposit of title deed.

There is 1 question to complete.