Transfer of Property Act, contemplates six types of mortgages, they are:
- Simple mortgage
- Mortgage by conditional sale
- Usufructuary mortgage
- English mortgage
- Mortgage by deposit of title deeds
- Anomalous mortgage
In Simple mortgage, the mortgage is by deposit of title deeds and in English mortgage, the possession of the mortgaged properties is not given to the mortgagee.
In usufructuary mortgage and in mortgage by conditional sale, possession of mortgaged properties is normally given to the mortgagee.