Mortgage Deed

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OverviewDocumentsFAQ's

A Mortgage Deed is a legal document through which a borrower (mortgagor) pledges their property as security to a lender (mortgagee) for a loan. It ensures the lender’s right to recover the loan amount by selling the property if the borrower defaults.

  • Purpose: To secure a loan by using property as collateral.
  • Parties: Borrower (property owner) and lender (bank, financial institution, or individual).
  • Key Details: Loan amount, repayment terms, interest rate, rights of lender on default, and property details.

Documents Required for Mortgage Deed

  1. Identity Proof of borrower and lender (Aadhar, PAN, Passport)
  2. Title Deed / Sale Deed of the property (to prove ownership)
  3. Encumbrance Certificate (showing property is free from legal dues)
  4. Property Tax Receipts
  5. Loan sanction letter or agreement (from lender)
  6. Passport-sized photographs of both parties
  7. Signed Mortgage Deed draft
  8. No Objection Certificate (if applicable)

FAQ's

FAQ's

1. What is the purpose of a Mortgage Deed?

To legally pledge property as collateral for a loan, protecting the lender’s interests.

2. Is registration of the Mortgage Deed mandatory?

Yes, it must be registered to be legally valid and enforceable.

3. Can the property be sold during the mortgage?

Not by the borrower without the lender’s consent. The lender can sell the property if the borrower defaults.

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