Correct option is A
In a
simple mortgage, the
mortgagor binds himself personally to pay the mortgage money and does not part with possession of the property, although the property serves as security.
Information Booster:
Under a simple mortgage (Section 58(b) of the Transfer of Property Act), the mortgagor promises to repay the loan, and if he fails to do so, the mortgagee has the right to sell the property to recover the debt.
Additional Knowledge:
·
Usufructuary mortgage: Involves giving possession of the property to the mortgagee.
·
Anomalous mortgage: A combination of two or more types of mortgages.
