logo logo

What are the essentials of deposit of title deeds?

The Section 58(f) of ‘the Transfer of Property Act’ deals with the deposit of title deeds.  This is a type of recognized mode of mortgage, especially to meet the urgent financial needs.  A person delivers to the creditor or his agent, documents of title of immovable property with an intention to create security for the amounts borrowed, it is called deposit of title deeds.   Accordingly the essentials of the deposit of title deeds are debt, deposit of title deeds and intention to create a security.