MORTGAGE DEED

 

THIS DEED OF MORTGAGE is executed at___ on this ____ day of___ , 2001 by and BETWEEN Mr___, son of___, Indian Inhabitant aged about___ years, residing at___ (hereinafter referred to as the MORTGAGOR   (which expression shall, unless repugnant to the subject or context, mean and include his heirs, successors, assigns, executors, administrators or any one claiming through or under him) of the ONE PART; AND Mr.___, son of ___, Indian Inhabitant aged about___ years, residing at ___ (hereinafter referred to as the MORTGAGEE (which expression shall, unless repugnant to the subject or context, mean and include his heirs, successors, assigns, executors, administrators or any one claiming through or under him);

WHEREAS the Mortgagor is the absolute owner in possession of the property bearing no.___

WHEREAS the Mortgagee has agreed to lend and advance a sum of Rs___ to the Mortgagor at his request with interest at the rate hereunder stated and secure in the manner hereinafter expressed.

NOW THIS DEED OF MORTGAGE WITNESSETH AS FOLLOWS:

1.In consideration of the sum of Rs___ paid by the Mortgagee to the Mortgagor by way of cash/ cheque/ Demand Draft the Mortgagor hereby acknowledges and admits the Mortgagor do hereby agree with the Mortgagee that the Mortgagor will on or before (date) pay to the Mortgagee the sum of Rs___ , with interest at the rate of___.% per annum, such interest to be paid monthly and every month on....day without any delay or default.

OR

The Mortgagor has earlier borrowed a sum of Rs___from the Mortgagee and the Mortgagor has agreed to create a mortgage by the Mortgagor has agreed to create a mortgage by way of security for the said loan.

2. As security for the repayment of the said loan with interest, the Mortgagor do hereby charge, assure and mortgage, by way of simple mortgage, unto and in favour of the mortgagee all that piece and parcel of the land bearing___

SCHEDULE

All that piece and parcel of the property bearing no._________________________, and bounded on the :-

EAST BY        :
WEST BY       :
NORTH BY    :
SOUTH BY    :

IN WITNESS WHEREOF, the parties abovenamed have affixed their respective signatures to this deed on the day, month and year first above written.

SIGNED, SEALED AND DELIVERED
by the withinnamed Mortgagor in the
presence of ____________________
SIGNED, SEALED AND DELIVERED
by the withinnamed Mortgagee in the
presence of ____________________

NOTE: If the principal sum secured is Rs.100 or more, registration under Section 17 (1) (b) of the Indian Registration Act is mandatory. 

ABSOLUTELY NO WARRANTIES ARE MADE REGARDING THE SUITABILITY OF THESE FORMS FOR ANY PARTICULAR PURPOSE. IT IS ADVISABLE THAT IMPORTANT DOCUMENTATIONS ARE PREPARED OR VETTED BY EXPERT. LEGAL ADVICE OF ANY NATURE SHOULD BE SOUGHT FROM COMPETENT, INDEPENDENT, LEGAL EXPERT IN THE RELEVANT JURISDICTION.
 
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