In this form of mortgage, the property is given as a security to the mortgagee, who is let into possession or is permitted to repay himself out of the rents and profits of such property. Following Two points should be noted carefully with respect to Usufructary mortgage, that is (i) Possession must be given to the mortgagee, or the mortgagor must expressly or impliedly bind himself to deliver possession and (ii) The mortgagor will not be personally liable, unless there is a distinct agreement to the contrary.