Central Act
59
Section 59. Mortgage when to be by assurance.
The Transfer of Property Act, 1882
In forceAll India (Central Act)
59. Mortgage when to be by assurance. Where the principal money secured is one hundred rupees or upwards, a mortgage 1[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 2[a registered instrument] signed and attested as aforesaid, or (except in the case of a simple mortgage) by delivery of the property. 3* * * *