What is difference between Simple Mortgage and Legal Mortgage?

Answer 1

Simple mortgate is binding only between the contracting parties like one which is not executed with formalities under the law while legal mortgage is binding between the parties and other persons who are affected by the contact since it was executed under the law and properly registered with the concerned government office.

Answer 2

A simple mortgage (Law French for "dead pledge") is a device used to create a lien on real estate by contract. It is used as a method by which individuals or businesses can buy residential or commercial property without paying the full value upfront. The borrower (also called the mortgagor) uses a mortgage to pledge real property to the lender (also called the mortgagee) as security against the debt (also called hypothecation) for the rest of the value of the property. ...
A legal mortgage which has been perfected as per requirements of the relevant law, for example, stamping, filing, registration, etc. Also called English mortgage.