MORTGAGE DEED
This Agreement is made on [Date] between [Lessor] and [Lessee]
- Parties. This Mortgage Deed is between [Borrower Name], R/o [Address] (the "Mortgagor") and [Lender Name/Bank], at [Address] (the "Mortgagee").
- Property Description. The mortgaged property is [Flat/Plot/House No., Locality, City, PIN], admeasuring [Area], owned absolutely by the Mortgagor.
- Loan & Consideration. The Mortgagee has advanced a loan of Rs. [Amount] ([in words]) to the Mortgagor, the receipt of which is acknowledged.
- Creation of Mortgage. To secure repayment, the Mortgagor hereby mortgages the said property to the Mortgagee by way of [simple / registered / equitable] mortgage.
- Interest. The loan carries interest at [X]% per annum, payable [monthly], on the principal outstanding.
- Repayment. The Mortgagor shall repay the principal with interest in [No.] instalments/by [Due Date].
- Possession. The Mortgagor shall [retain possession / deliver title documents], and shall not create any further charge over the property during the mortgage.
- Redemption. On full repayment, the Mortgagee shall release the property and return the title documents free of charge.
- Default & Enforcement. On default, the Mortgagee may enforce the security and sell the property to recover dues as per law.
- Insurance & Taxes. The Mortgagor shall keep the property insured and pay all taxes and outgoings during the mortgage.
- Stamp Duty & Registration. Stamp duty and registration charges shall be borne by the [Mortgagor], and the deed shall be registered before the Sub-Registrar, [City].
- Governing Law. This Deed is governed by Indian law, subject to courts at [City].
IN WITNESS WHEREOF the parties have executed this Mortgage Deed on the date first written above.
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[Mortgagor]
[Mortgagor]
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[Mortgagee]
[Mortgagee]
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Witness 1: [Name & Address]
Witness 1: [Name & Address]
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Witness 2: [Name & Address]
Witness 2: [Name & Address]