Deposit Title Notice For Free

As the name suggest, equitable mortgage is created by the borrower in favour of the lender by deposit of title deed of immovable property as security to a lender until the loan is fully repaid. This creates a charge on the property, though no legal procedure is involved.

A Memorandum of Deposit of Title Deed (MODT) is a legal document that allows borrowers to deposit their property documents with the lender as collateral for a loan. This document serves as proof of ownership of the property and is used to secure the loan.

Through a MODT deed, a borrower gives a printed undertaking. It states that they have deposited their property's title document with the lender out of their free will. The title document deposit takes place in exchange for a loan. A borrower must register the MODT deed at the state sub-registrar's office.

A Memorandum of Deposit of Title Deed (MODT) is a legal document that allows borrowers to deposit their property documents with the lender as collateral for a loan. This document serves as proof of ownership of the property and is used to secure the loan.

The borrower may also give an undertaking known as Memorandum of Deposit of Title Deed (?MoDT?) which states that the borrower, at his own free will, has deposited his property's title document with the lender in order to secure a loan by creating a mortgage.

A MODT is a part of the State Government requirements and has to be registered in addition to the loan agreement and has to be registered at the Sub-Registrar Office. It is mandatory in a few states, but not in all states. The pledged property is endorsed at the Sub-Registrar office.

However, Irrespective of MODT is registered or not, the bank collects all the title documents, which include sale deed, sale agreement, and latest encumbrance certificate. MODT is part of state government requirement, MODT charges differ from state to state in India. Scanning Rs. 350 (approx.)

Also known as sale deeds, title deeds are real estate documents used in India and other countries. They originated from a time when the land and deeds were recorded in the County Records office. But they have evolved since then. Title deeds convey ownership of properties to parties purchasing them from the owners.

How MOD is Cancelled? Once the loan has been repaid in full, the lender has to cancel the MOD and free the property from lien. An official from the lender will visit the registration office and make a release deed, confirming the registration department to release the MOD and lifting the lien on the property.

Step 1: Open the K2 website Khajane II. Step 2: Click on ?Generate Challan?.Step 3: Remitter Details: Step 4: Department Details: Step 5: Purpose Details: Step 6: Again in Purpose Details: Step 7: In Treasury Details.