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Satish   28 December 2019

Modt - memorandum of deposit of title deed

I am taking mortgage loan.How much will it cost to arrange MODT with a lawyer?


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 7 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     28 December 2019

the lawyer fees depend on your case.  In most of the States, the stamp duty and registration fees for MODT are less the Mortgage deeds.

G.L.N. Prasad (Retired employee.)     29 December 2019

Only the memorandum may require registration in some states.  But I do not know where advocate enters into the picture of fees, when ther memorandum in uniform format and the borrower/lender can present that instrument for getting such mortgage.

T. Kalaiselvan, Advocate (Advocate)     29 December 2019

If you are planning to avail mortgage loan, why do you have approach an advocate, you can approach the bank or the NBFC directly and enquire about the further formalities including the stamp duty and all other formalities to be complied for availing this loan.

 

R. Jayakumar (ADVOCATE)     01 January 2020

For MODT registration Stamp Duty is 0.5 percendage of the loan amount or Rs.25000/- maximum and registration Charge is Rs.6100/- or 1% which ever is higher

R. Jayakumar (ADVOCATE)     01 January 2020

For MODT registration Stamp Duty is 0.5 percendage of the loan amount or Rs.25000/- maximum and registration Charge is Rs.6100/- or 1% which ever is higher

Sankaranarayanan (Advocate)     04 January 2020

Nothing more to to be added , i do endorse the experts suggestions

Archana Pandey   12 January 2022

Memorandum of Deposit of Title Deed (MODT) is executed for a mortgage by depositing the title documents of the property with the bank at your own free will. Government levies a stamp duty for the registration charges. Stamp duty charges can vary from state to state. This is charged on some percentage of the home loan. Legal fees are charged when banks opt external lawyer to validate the legal aspects of your home loan.


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