ES 'भार' की उदाहरण सहित परिभाषा दीजिए व इसके आवश्यक तत्वों को बताइए। 'भार' और 'बंधक' में क्या अंतर है?

Charge: Definition, Essentials, and Difference Between Charge and Mortgage

1. Definition of Charge

A charge is a legal right created on immovable property as security for the repayment of money, but without transferring ownership or possession to the lender.

Legal Definition (Section 100, Transfer of Property Act, 1882)

"Where immovable property of one person is made security for the payment of money to another, and the transaction does not amount to a mortgage, a charge is created."

Example of Charge:

• A court orders that a debtor’s land be used as security for a creditor’s claim. This does not transfer ownership but ensures the creditor can recover the debt from the property.

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2. Essentials of a Valid Charge

For a charge to be valid, the following conditions must be met:

(i) There Must Be Immovable Property

• A charge is always created on immovable property (land, house, etc.).

(ii) There Must Be a Debt or Obligation

• A charge is created to secure repayment of money or fulfill a financial obligation.

(iii) No Transfer of Interest or Possession

• Unlike a mortgage, a charge does not transfer ownership or possession to the lender.

(iv) Charge May Be Created by Act of Parties or by Law

• By Act of Parties – When two parties agree to create a charge (e.g., a contractual agreement).
• By Operation of Law – A charge imposed by law (e.g., unpaid taxes creating a charge on property).

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3. Difference Between Charge and Mortgage

Basis	Charge	Mortgage
Definition	A security interest on property without transfer of ownership.	A transfer of interest in property as security for a loan.
Legal Provision	Section 100 of the Transfer of Property Act, 1882.	Section 58 of the Transfer of Property Act, 1882.
Transfer of Interest	No interest in the property is transferred.	The mortgagor transfers an interest in the property to the mortgagee.
Possession	The borrower retains possession.	Possession may or may not be given to the mortgagee, depending on the type of mortgage.
Registration Requirement	Not compulsory, unless specified by law.	Compulsory for amounts above ₹100 (except equitable mortgages).
Creation	Can be created by agreement or by law.	Created only by agreement between parties.
Right to Sale	The lender cannot sell the property directly but can seek a court decree.	The mortgagee has the right to sell the property in case of default (depending on the type of mortgage).
Example	A court imposes a charge on land for unpaid debts.	A person mortgages his house to a bank for a loan.

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4. Conclusion

A charge is a legal right without transfer of ownership, ensuring payment of money. A mortgage, on the other hand, involves a transfer of interest in property as security for repayment. Both serve as security mechanisms but differ in their legal implications and enforceability.