500 DR. BABASAHEB AMBEDKAR : WRITINGS AND SPEECHES
- The question is, to what does the restriction refer ? Does it to the place where the deeds are delivered ? or does not refer to the place where the property mortgaged is situated ? It is held that the restriction refers to the place where the deeds are delivered and not to the situation of the property mortgaged.
Cases . 14 All. 238.
23 I. A. 106.
It is not necessary for the property to be situated in the towns mentioned.
(vi) Anomalous Mortgages
Any mortgage, other than those specified, is called an anomalous mortgage. It is a mortgage which does not fall within any of the other five classes enumerated.
Anomalous mortgages take innumerable forms moulded either by custom or the caprice of the creditor—some are combinations of the simple forms—others are customary mortgages prevalent in particular districts, and to these special incidents are attached by local usage.
What is it that distinguishes different kinds of mortgage.
It is the nature of the right transferred which distinguishes the mortgage.
(1) In a simple mortgage, what is transferred is a power of sale which is one of the component rights that make up the aggregate of ownership.
(2) In a usufructuary mortgage, what is transferred is a right of possession and enjoyment of the usufruct.
(3) In a conditional mortgage and in an English mortgage, the right transferred is a right of ownership subject to a condition.
(4) In a simple mortgage and English mortgage, there is a personal obligation to pay.