In law, a property mortgage is a contract where one person, the mortgagor, borrows money from another person, the mortgagee, to buy real estate. The loan is secured using the purchased property as collateral, creating a legally enforceable obligation. Mortgages are categorised into many classes, as defined by the Transfer of Property Act 1882. Each classification outlines certain rights and responsibilities to which the parties involved must adhere. The categories include many types of mortgages. Each kind has distinct characteristics that determine how ownership is governed, how repayment is made, and what actions may be taken in case of failure. The complex legal structure that regulates mortgages plays a crucial role in property purchase transactions, preserving the integrity of contracts and protecting the rights of both the person borrowing the money (mortgagor) and the person lending the money (mortgagee).