Transfer of Property Act, 1882
Sec. 58 – Mortgage
🔹 Short Note (Hindi)
Section 58 kehta hai ki mortgage ek aisa transfer hai jisme ek insaan apni property ko loan ya debt ke security ke liye transfer karta hai. Mortgage ke through lender ko repayment ka assurance milta hai, aur borrower ke rights aur obligations define hote hain.
🔹 Detailed Explanation (English + Hindi)
Section 58 of the Transfer of Property Act, 1882 defines mortgage as the transfer of interest in immovable property as security for a debt.
- Borrower (mortgagor) apni property ka interest lender (mortgagee) ko deta hai.
- Purpose hai loan repayment guarantee.
- Mortgage me property ka actual possession transfer hona zaroori nahi hai; kabhi-kabhi owner possession me rehta hai aur sirf charge create hota hai.
Mortgage ke alag types hain jaise: simple mortgage, usufructuary mortgage, English mortgage, equitable mortgage, etc., jo loan agreement ke terms par depend karte hain.
🔹 Main Conditions
- Property Type:
- Must be immovable property, legal ownership or interest exist hona chahiye.
- Debt or Obligation:
- Transfer ka maksad loan security hona chahiye.
- Transfer of Interest:
- Borrower apni property ka interest lender ko transfer karta hai.
- Written Agreement:
- Documentation essential, registration recommended for enforceability.
- Rights and Obligations:
- Lender gets right to recover loan in case of default
- Borrower retains rights depending on mortgage type
🔹 Legal Meaning (Simple Terms)
Section 58 ka simple matlab hai:
- Jab aap loan lete ho aur apni property ko security ke liye provide karte ho, to wo mortgage kehlata hai.
- Lender ko repayment ka legal assurance milta hai.
- Borrower apni property ko mortgage ke terms ke hisaab se control kar sakta hai.
🔹 Example
Ramesh bank se 20 lakh ka loan leta hai aur apni zameen ko mortgage karta hai.
- Agar Ramesh loan repay nahi karta, bank ko property se paisa recover karne ka right milega.
- Agar repayment timely ho jata hai, to property ka interest wapas Ramesh ke paas aata hai.
🔹 Key Legal Points
- Mortgage is a transfer of property interest for debt security
- Property must be immovable and owned by mortgagor
- Loan or debt must exist
- Lender’s right to recover is protected
- Mortgagor may retain possession depending on mortgage type
- Written agreement and registration recommended
🔹 Nyay Neeti Advice
Mortgage karte waqt proper loan documents, ownership proof, and registration zaroor complete karein.
- Terms and repayment schedule clearly mention honi chahiye
- Nyay Neeti recommends: avoid verbal mortgage to prevent legal disputes
- Understand rights and obligations of both mortgagor and mortgagee
🔹 Summary Table
| Point | Details |
|---|---|
| Law | Section 58, TPA 1882 |
| Meaning | Transfer of property interest as security for debt |
| Parties | Borrower (mortgagor) and lender (mortgagee) |
| Property Type | Immovable property |
| Rights of Lender | Recover loan on default |
| Rights of Borrower | Control depending on mortgage type |
| Legal Compliance | Written agreement and registration |
