Mortgage Deed

The mortgage deed is the legal document, where the borrower agrees to mortgage his property for the loan amount agreed by both the parties of the deed.

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The mortgage deed is the legal document, where the borrower agrees to mortgage his property for the loan amount agreed by both the parties of the deed. A mortgage deed is defined as a document that provides the lender or mortgagee for the legality in terms of right and interest in the property. When a mortgagor pledges his property as collateral in obtaining a loan, the lender's ownership in the deal is legalized in the mortgage deed. The mortgagor signs it along with the attestation by at least two witnesses.


  • Simple Mortgage

When a mortgagor binds to pay the mortgage amount as per the loan or gives the right to the mortgagee to sell the property and proceed towards the loan, then it is called as a simple mortgage. In a simple mortgage, the possession of the property is not delivered to the mortgagee.

  • Mortgage by Conditional Sale

When mortgagor sells the property to the mortgagee with a condition, that the sale will become absolute in case of payment default, then it is called a mortgage by conditional sale. If the payment is made to the mortgagee as mentioned in the terms and condition, then the mortgage of the property is held to be void.

  • Usufructuary Mortgage

When a mortgagor delivers the possession of a property to the mortgagee and authorizes him to hold the possession of the property until the payment of the debt, then it is known as an Usufructuary Mortgage.

  • Mortgage by Deposit of Title-Deeds

When the mortgagor delivers to the mortgagee the title to the immovable property, with an intent to create security until the payment of debt, it is known as Mortgage by deposit of title deeds.

  • Anomalous Mortgage

Any mortgage which is not a simple mortgage or usufructuary mortgage or mortgage by conditional sale or a mortgage relating to deposit of the title deeds is held to be an anomalous mortgage.

The validity of Property Mortgage

Any mortgage other than a mortgage relating to the deposit of title deeds is valid only if the mortgage is entered by way of a registered instrument that is signed and attested by the mortgagor and at least two witnesses.

Mortgage Deed includes the following details:

  • Name of the parties
  • Details of the property
  • Loan sum and repayment
  • Time for reconveyance of the property
  • Insurance
  • Default in repayment
  • The compensation received by the property
  • Leasing of property

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