Draft the following as per the instructions: A memorandum of mortgage by deposit of title deeds.
CS Professional · Drafting, Pleadings and Appearances · PYQS · December 2019
Draft the following as per the instructions: A memorandum of mortgage by deposit of title deeds.
Answer & Explanation:
Memorandum that this........... day of........ 2019, 'AB' of, etc. (the mortgagor), as beneficial owner, has deposited with 'CD' of, etc. (the mortgagee), the original title deeds comprised in the Schedule A hereto, relating to the premises belonging to the said 'AB' and situate at.... etc., described in Schedule B with intent to create a charge thereon for securing repayment to the said 'CD' of the sum of ₹............ this day lent and advanced by the said 'CD' to the said 'AB' on demand with interest for the same from this date at the rate of ₹............ per cent per annum. The said 'AB' do hereby undertake as and when required by the said 'CD' to execute and register at the costs of the said 'AB' a legal mortgage in such form and containing such covenants and provisions as he may reasonably require. Dated this............ day of............ 2019. The Schedule A above referred to Description of the Title Deeds deposited. The Schedule B above referred to Description of the Property. Signature of the Mortgagor.
Topics: Conveyancing
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