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1The Transfer of Property Act, 1882

( ACT NO. IV OF 1882 )

[ 17th February, 1882 ]

Chapter IV

OF MORTGAGES OF IMMOVEABLE PROPERTY AND CHARGES

“Mortgage,” “mortgagor,” “mortgagee,” “mortgage-money” and “mortgage-deed”defined
58. (a) A mortgage is the transfer of an interest in specific immoveable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability.The transferor is called a mortgagor, the transferee a mortgagee; the principal money and interest of which payment is secured for the time being are called the mortgage-money, and the instrument (if any) by which the transfer is effected is called a mortgage-deed.
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    Throughout this Act, except otherwise provided, the words “Bangladesh”, “Government” and “Tk.” were substituted, for the words “Pakistan”, “Central Government” or “Provincial Government” and “Rs.” respectively by section 3 and 2nd Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973).
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