Amendment status not verified — confirm the current text below against the official source.
MORTGAGE-DEED, not being (AN AGREEMENT RELATING TO DEPOSIT OF TITLE. DEED, PAWN OR PLEDGE (No. 6), BOTIOMRY BOND {No. 16), MORTGAGE OF A CROP {No. 41) RESPONDENTIA BOND {No. 56), OR SECURITY BOND (No. 57) 2[(a) when possession of the property or any part of the property comprised in such deed is given by the mortgagor or agreed to be given. (i) where the amount or value of the consideration for such conveyance as set forth therein does not exceed Rs 1000 (ii) where it exceed Rs 1000 (b) when possession is not given or agreed to be given as aforesaid; Explanation: A mortgagor who gives to the mortgagee a power- of-attorney to collect rents or a lease of the property mortgaged or part thereof, is deemed to give possession within the meaning of this Article. (c) when a collateral or auxiliary or additional or substituted security, or by way of further assurance by the above mentioned purpose where the principal or primary security is duly stamped (i) for every sum secured not exceeding Rs. 1000 (ii) and for every Rs. 1000 or part there of secured in excess olRs. 1000. Exemptions: (1) Instrument, executed by persons taking advances under he lands Improvement Loans Act, 1883 {10 of 1883) or the Agriculturists Loan Act, 1884 (12 of 1884) or by their sureties as security for the repayment of such advance. (2) Letter of hypothecation accompanying a bill of exchange.