Which of the following transfer is valid?
Verified Answer
A. An unregistered usufructuary mortgage for Rs. 99/-
B. An unregistered gift of immovable property for the value of Rs. 99
C. An oral lease of immovable property from year to year
D. An oral assignment of debts
Explanation:
Section 59 of the Transfer of Property Act, 1882, allows a mortgage for less than Rs. 100 to be effected either by a registered instrument or by delivery of the property. The other options require registration or writing regardless of value.