Download Simple Mortgage deed form | Karnataka | Bengaluru
Mortgage Deed documents are one of the most important documents. These states terms and conditions between a borrower and a lender. Mortgage deeds are required because these give the lenders the power to recover the money from mortgaged property if the borrower is unable to repay the loan amount.
What is the purpose of mortgage deed?
The purpose of mortgage deed is to give some power to the lender. If the borrower is unable to repay the money or the loan amount then according to the terms and conditions of mortgage deed , the lender can recover or reposses the money or recover the money from the mortgaged property.
Who makes the mortgage deed?
The individual who mortgages his property against the lender makes the mortgage deed. In this deed he gives in detail about what property he is mortgaging, what is the price and many other details which are important for a lender. These details are mentioned in the mortgage deed.
You can download simple mortgage deed form from the above link.