Deposit Title Paper For Free - Title Paper Form

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.

Deposit of Title Deed is creating a charge on the property by handing over the title deeds of the property by its owner to the lender and orally confirming of handing over the title needs for the intent to create a charge on the property for the amount borrowed. Deposit of Title Deed will not incur any stamp duty.

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.

A mortgage by deposit of title deeds is a form of mortgage recognised by S. 58 (f), T. P. Act,which provides that it may be effected in certain towns (including Calcutta) by a person ?delivering to his creditor or his agent documents of title to immovable property with intent to create a security thereon.?

The Memorandum of Deposit (MOD) is also one of the most important charges you have to pay while applying for a home loan. This MOD is required to confirm that you have deposited your property's title deed to the bank as loan collateral. MOD charges may vary across states and are usually in the range of 0.1% - 0.5%.

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.

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.