According to the provisions of the Transfer of Property Act, 1882 where immovable property of one person is, by act of parties or operation of law made security for the payment of money to another, and the transaction does not amount to a mortgage, the latter person is said to have a charge on the property and all the provisions contained in the Act which apply to a simple mortgage shall, so far as may be, apply to such charge. This provision shall not apply to the charge of a trustee on the trust-property for expenses properly incurred in the execution of his trust and saving all provisions otherwise expressly provided by any law for the time being in force, no charge shall be enforced against any property in the hands of a person to whom such property has been transferred for consideration and without notice of the charge. There are three kinds of charges. (a) Charges created by act of parties, (b) Charges arising by operation of law, (c) Vendor’s Charge for unpaid purchase money and (d)Vendee’s Charge for purchase money paid in advance.
