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MOTD Charges: Memorandum of Deposit of Title Deed or MOTD is an undertaking provided by the applicant which states that the property has been pledged to the bank as per the customer's own will to obtain a Home Loan. This document requires a stamp duty, which varies between 0.1% and 0.2% of the final loan amount.

A Memorandum of Title Deeds is an undertaking given by the borrower stating that you are depositing your property title documents with the bank at your own will in return for a loan. Banks take this undertaking apart from the loan agreement.

It is a part of the home loan process as I mentioned and when an agreement is made, signed and registered then it is not mandatory to file notice of intimation. However, If no agreement is signed between the mortgagor and mortgagee, then the mortgagor has to file a notice of intimation.

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.

1) If an agreement is executed (signed) between the Mortgagor and the Mortgagee, it has to be compulsory registered. The usual time limit for registration is four months from the date of execution.

Under Article 40(a) of Maharashtra Stamp Act. : Where possession of the property is given by the Mortgagor. Stamp Duty is 5% as per conveyance as above on the amount of Loan. Under Article 40(b) of Maharashtra Stamp Act. : Where possession of the property is not given by the Mortgagor.

Memorandum of Deposit of Title Deed or MODT is applicable for all home loan borrowers. It is essentially an undertaking given by you that you are depositing title documents of the property with the bank of your own free will in return for a loan.