“The essentials of an agreement to qualify as a mortgage by conditional sale can succinctly be broadly summarised. An ostensible sale with transfer of possession and ownership, but containing a clause for reconveyance in accordance with Section 58(c) of the Act, will clothe the agreement as a mortgage by conditional sale. The execution of a separate agreement for reconveyance, either contemporaneously or subsequently, shall militate against the agreement being mortgage by conditional sale. There must exist a debtor and creditor relationship.

The valuation of the property and the transaction value along with the duration of time for reconveyance are important considerations to decide the nature of the agreement. There will have to be a cumulative consideration of these factors along with the recitals in the agreement, intention of the parties, coupled with other attendant circumstances, considered in a holistic manner.”

[Extracted from Vithal Tukaram Kadam v. Vamanrao Sawalaram Bhosale, (2018) 11 SCC 172. In the foregoing extract, ‘Act’ refers to the Transfer of Property Act, 1882].

Which of the following expresses the distinction between a ‘mortgage by conditional sale’ and a ‘sale with a condition of repurchase’?

Which of the following judgements outline(s) the distinction between ‘mortgage by conditional sale’ and a ‘sale with a condition of repurchase’?

The proper remedy for the mortgagee in a ‘mortgage by conditional sale’ is:

A mortgage is the transfer of an interest in _____________ immoveable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability.

The limitation period for filing a suit by a mortgagor ‘to redeem or recover possession of immovable property mortgaged’ is: