Amendment status not verified — confirm the current text below against the official source.
MORTGAGE DEED, not being an Agreement relating to Deposit of Title-deeds, Pawn or Pledge (No. . Bottomry Bond (No. 16). Mortgage of a Crop (No. 41) Respondentia Bond (No. 56), or Security Bond (No. 57)— (a) when possession of the proper- The same duty as a Con ty or any part of the property veyance (No. 23) for a con comprised in such deed is given sideration equal to the by the mortgagor or agreed to amount secured by such he given; deed. (b) when possession of the proper- The same duty as a Bond ty comprised in such deed is (No. 15) for the amount not given by the mortgagor nor secured by such deed. agreed to he given; EXPLANATION :—A mortgagee a who gives to the mortgaged 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) (i) when a collateral or auxiliry Two rupees and fifty paise. or additional or substituted security, or by way of further assurance for the above men tioned purpose where the prin cipal or primary security is duly stamped for every sum secured not exceeding Rs. 1,000 (ii) and for every Rs. 1,000 or part Three rupees. thereof secured in excess of Rupees 1,000’ Exemptions (1) Instruments executed by per sons taking advances under the Land Improvement Loans Act, 1883, or the Agriculturtsts’ Loans Act, 1884, or by their sureties as security for the repayment of such advance. (2) Letter of hypothecation ac companying a bill of exchange..