OF MORTGAGES OF IMMOVEABLE PROPERTY AND CHARGES
Simple mortgage(b) Where, without delivering possession of the mortgaged property, the mortgagor binds himqwself personally to pay the mortgage-money, and agrees, expressly or impliedly, that, in the event of his failing to pay according to his contract, the mortgagee shall have a right to cause the mortgaged property to be sold and the proceeds of sale to be applied, so far as may be necessary, in payment of the mortgage-money, the transaction is called a simple mortgage and the mortgagee a simple mortgagee.
Legislative and Parliamentary Affairs Division
Ministry of Law, Justice and Parliamentary Affairs
Bangladesh Secretariat, Dhaka - 1000, Bangladesh.
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