Transfer of Property Act, 1882 — Section 58(c) — Mortgage by conditional sale — Condition for —

August 28th, 2013

Transfer of Property Act, 1882 — Section 58(c) — Mortgage by conditional sale — Condition for — Held, for the purpose of bringing a transaction within the meaning of `mortgage by conditional sale`, the first condition is that the mortgagor ostensibly sells the mortgaged property on the condition that on such payment being made, the buyer shall transfer the property to the seller — Although there is a presumption that the transaction is a mortgage by conditional sale in cases where the whole transaction is in one document, but merely because of a term incorporated in the same document it cannot always be accepted that the transaction agreed between the parties was a mortgage transaction.

(Para 14)

Vanchalabai Raghunath Ithape v. Shankarrao Baburao Bhilare[Bench Strength 2], Civil Appeal No. 4833/2013 (Arising out of Special Leave Petition (Civil) No. 578/2005)(01/07/2013), 2013(7) SCALE 613: 2013(9) JT 267: 2013(5) Supreme 305 [P. Sathasivam, J.: M.Y. Eqbal, J.]

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