Vol.(13) 2026: IBPS’ Bank Law Officer Entrance/ Promotion Exam- (1-Liners: TPA-Mortgages)

Date of Upload:20.10.2026

1. As per Transfer of Properties Act, 1882 (TPA), mortgage are of how many kinds?—6-kinds.
2. The term “Mortgage” is defined under Section________of the Transfer of Properties Act, 1882 (TPA)—Section 58(a).
3. In mortgage, there must be transfer of what?—An interest.
4. True/ False: Mortgage money means principal money plus interest thereon—True.
5. Charges are of two kinds—Fixed Charges and Floating Charges.
6. Section 58(b) of Transfer of Properties Act, 1882 (TPA) defines—Simple Mortgage.
7. In Simple Mortgage (SM), no possession is given to mortgagee—True.
8. True/ False: In Simple Mortgage (SM), mortgaged property can not be sold without intervention of the court—True.
9. Whether registration mandatory in Simple Mortgage (SM) if value of IP Rs.100 and above—Yes.
10. True/ False: In Simple Mortgage, there is personal obligation to pay debt—True.
11. Section 58(c) deals with which king of mortgage?—Mortgage by conditional sale.
12. There so ostensible sale in which kind of mortgage—Mortgage by conditional sale (MCS).
13. True/ False: Initially, there is ostensible sale in mortgage by conditional sale (MCS). However, in case of defaults the property turns absolute from ostensible sale and mortgagor looses his right to redeem the property—True.
14. In mortgage by conditional sale (MCS), in case the loan is refunded, the ostensible sale turns—Void.
15. True/ False: In mortgage by conditional sale (MCS), the mortgagee shall file a suit for foreclosure and not for sale of property as it a mortgage by conditional sale and sale has already taken place—True.
16. True/ False: In mortgage by conditional sale (MCS), there is no personal obligation for payment of debt while in Simple Mortgage (SM), there is personal obligation to pay debt—True.
17. In UFM (Usufructuary Mortgage), the possession of property is transferred to whom?—Mortgagee.
18. True/ False: In UFM (Usufructuary Mortgage), the possession is legal possession not physical possession—True.
19. In UFM (Usufructuary Mortgage), the mortgagor shall continue as—Lessee.
20. In UFM (Usufructuary Mortgage), the bank (i.e mortgagee) acts in the capacity of—Lessor.
21. True/ False: In UFM (Usufructuary Mortgage), the owner/ mortgagor shall continue as caretaker of the mortgaged property—True.
22. True/ False: In UFM (Usufructuary Mortgage), there is no personal liability to pay debt by mortgagor unless special covenant is made in this regard. Therefore, the mortgagee can not sue the mortgagor for repayment of debt—True.
23. True/ False: In UFM (Usufructuary Mortgage), the debt to be recovered from the rent etc. and the mortgaged property to be put under possession until the whole debt is repaid—True.
24. In UFM (Usufructuary Mortgage), the mortgagee to remain in the possession of the property till debt is realized. If mortgagor fails to redeem the property within ______ years, the Bank shall become absolute owner of the property—30-years.
25. True/ False: The Bank does not prefer the UFM (Usufructuary Mortgage), as there is no personal obligation to pay the debt and debt to be recovered from the income/ rent of the property—True.
26. Section 58(e) of Transfer of Properties Act, 1882 (TPA) defined which kind of mortgage—English Mortgage.
27. True/ False: There is transfer of absolute ownership in English Mortgage unlike other kinds of mortgage—True.
28. True/ False: In English Mortgage, the mortgagor binds himself to pay the mortgage money on certain date and transfer the mortgage property absolutely to the Bank-mortgagee—True. [Such transfer is subject to provision that if the mortgage money is returned, the property shall be re-transferred to the mortgagor with condition to return back on payment of debt. It provided for personal liability to pay debt.
29. True/ False: In English Mortgage, there is absolute transfer to property and not ostensible transfer—True.
30. Section ________of Transfer of Properties Act, 1882 (TPA) defines the expression “Mortgage by Deposit of Title-Deed” (MDTD)—Section 58(f).
31. Equitable Mortgage (EQTM) is also known as—Mortgage by Deposit of Title-Deed.
32. As per Section 58(f) of Transfer of Properties Act, 1882 (TPA), Equitable Mortgage (EQTM) can be created at which place?—Calcutta, Chennai, Mumbai and any place as authorized by the State Government.
33. True/ False: Where is the IP is not important, the important point is that the property must be deposited at a place where EQTM can be created. Thus, it is not necessary that the EQTM must be created at the place where property is situated—True.
34. In Equitable Mortgage (EQTM), whether registration is required?—No.
35. Section ______of the Registration Act, 1908 provides that Equitable Mortgage (EQTM) shall prevail over other kind of subsequent mortgage—Section 48.
36. “Anomalous mortgage” is defined under Section______of the Transfer of Properties Act, 1882 (TPA)—Section 58(g).
37. Mortgage by deposit of title-deed (EQMT) and Anomalous mortgages were not originally under Transfer of Properties Act, 1882 (TPA). These were inserted by Amendment in the year—1929.

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