In India, the word "transfer" is denned with reference to the word "convey". The word "transfer" in English law in its narrower and more usual sense refers to the transfer of an estate in land. Section 205 of the Law of Property Act in England defines : "Conveyance" includes a mortgage, charge, lease, assent, vesting declaration, vesting instrument The word "conveys" in Section 5 of the Transfer of Property Act is used in the wider sense of conveying ownership-the right to redeem a mortgage given to a mortgagor u/s 60 of the Transfer of Property Act, is not extinguished by a contract of sale of the mortgaged property entered into by a mortgagee in exercise of the power of sale given to him under the mortgage deed. Until the sale is completed by a registered instrument, the mortgagor can redeem the mortgage on payment of the requisite amount.
