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These are some characteristics of a usufructuary mortgage under section 58 of the Transfer of Property Act, 1882
(1) There is no personal liability on the mortgagor.
(2) No time limit is fixed.
(3) Mortgagee takes the whole or part of the rent and profits.

These are some characteristics of a usufructuary mortgage under section 58 of the Transfer of Property Act, 1882
(1) There is no personal liability on the mortgagor.
(2) No time limit is fixed.
(3) Mortgagee takes the whole or part of the rent and profits. Correct Answer All are relevant

Related Questions

There are some characteristics of usufructuary mortgage under Section 58 of the Transfer of Property Act:
1. There is no personal liability on the mortgagor.
2. No time limit is fixed.
3. Mortgagee takes the whole or part of the rent and profits.
Section 58 enumerates some classes mortgages:
(1) Simple mortgage
(2) Mortgage by conditional sale
(3) Usufructuary mortgage
(4) English mortgage
(5) Equitable mortgage
(6) Anomalous mortgage
A mortgage which is not a simple mortgage, a mortgage by conditional sale, an Usufructuary mortgage, an English mortgage or a mortgage by deposit of title deeds is called . . . . . . . .
Mortgagor binds himself to repay the mortgage money on certain date and transfer mortgage property absolutely to mortgagee with a condition that upon repayment of mortgage money, the mortgage will re-transfer it to mortgagor. This type of mortgage is known as:
Propositions as regards the liability of the surety under the surety bond are:
1. The liability of the surety is mutually exclusive of the liability of the accused under his personal bond.
2. The liability of the surety is contingent on the liability of the accused under his personal bond the liability of the surety.
3. is limited to the amount of the surety bond.
Now which of the following is correct
When a mortgagee acquires a portion of equity of redemption, the mortgage is not extinguished completely. There can be only a pro tanto extinguishment of the mortgage right to the extent of the mortgagee acquiring the mortgagor's interest and so far as the other sharer of the equity of redemption is concerned, the mortgagee will subsist. This was held in case of:
Where the mortgagor delivers, possession of the mortgaged property to the mortgagee authorizing him to retain such possession until payment of the mortgagee money and to receive the rent and profits accruing therefrom. Such a mortgage is called:
Where the mortgagor binds himself to repay the mortgage-money on a certain date and transfers the mortgaged property absolutely to the mortgagee subject to condition that the mortgagee will re-transfer it to the mortgagor upon payment of the mortgage-money, the transaction is called-
Under section 68 of the Transfer of Property Act, 1882, provision of this section shall not apply if the mortgagee sues for foreclosure on one mortgage and for sale on another mortgage. The statement:
To an anomalous mortgage section 60 of the Transfer of Property Act, 1882 applies whereas to an usufructuary mortgage