59. Mortgage when to be by assurance
Where the principal money secured is one hundred rupees or upwards, a mortgage [other than a mortgage by deposit of title-deeds], can be effected only by a registered instrument signed by the mortgagor and attested by at least two witnesses.
Where the principal money secured is less than one hundred rupees, a mortgage may be effected either by [a registered instrument] signed and attested as aforesaid, or (except in the case of a simple mortgage) by delivery of the property.
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Amendment notes (3)
- Ins . Ins. by Act 20 of 1929, s. 20.
- Subs . Subs. by Act 6 of 1904, s. 3, for "an instrument".
- omitted . Third paragraph omitted by Act 20 of 1929, s. 20.