LAWACADEMY

Difference between "conditional mortgage" and "sale with condition to repurchase". A conditional mortgage and a sale with condition to repurchase are two different types of transactions involving property.  The main difference is that in a conditional mortgage, the original owner of the property remains the debtor and has the right to redeem the property by paying off the debt to the lender, who is the conditional buyer. In a sale with condition to repurchase, the original owner sells the property outright to the buyer and has no debt or right to redeem, but only an option to repurchase the property within a specified period by paying the agreed price to the buyer.  A conditional mortgage is a form of mortgage by which the owner of the property transfers it to the lender as a security for the loan, but with a condition that the transfer will become absolute or void depending on whether the loan is repaid or not. A conditional mortgage must be evidenced by one docume...

  Transfer of Property Act,1882  The purpose of the Transfer of Property Act, 1882 is to define and amend the law relating to the transfer of property by the act of the parties and not by the operation of law. The Act deals with the aspects of transfer of immovable property from one living person to another. The application of the Transfer of Property Act, 1882 depends on the type of property, the mode of transfer, and the parties involved in the transfer. The Act covers various types of property transfer, such as sale, mortgage, lease, exchange, gift, and actionable claim. The Act also lays down the rights and duties of the sellers and buyers, the conditions and restrictions on the transfer, and the remedies for breach of contract. The Transfer of Property Act, 1882 is applicable to the whole of India, except the state of Jammu and Kashmir. It is also not applicable to agricultural land, which is governed by local laws. The Act is also subject to the provisions of the Indian ...

Musahar Sahu and Another v. Lala Hakim Lal and Another, 43 I.A. 151 (P.C. 1915).  This citation indicates that the case was decided by the Privy Council (P.C.) in 1915, and reported in volume 43 of the Indian Appeals (I.A.), starting from page 151.  The case of Musahar Sahu and Another v. Lala Hakim Lal and Another was a dispute over the validity of two conveyances of land executed by a debtor, Kishun Benode, to his relatives, Kamta Prashad and Hakim Lal, on 2nd September 1901. The plaintiff, Musahar Sahu, was a creditor of Kishun Benode who had obtained a judgment against him on 5th December 1901. The plaintiff sought to set aside the conveyances on the ground that they were made with intent to defeat or delay his claim, under section 53 of the Transfer of Property Act, 1882. The courts gave different verdicts on the two conveyances. The first conveyance, in favour of Kamta Prashad, was set aside by the Subordinate Judge and the High Court, as it was found to be without consi...