The term MODT stands for Memorandum of Deposit of Title Deed. It is a legal document executed during the process of availing a home loan. Through this document, the borrower declares that they have willingly deposited the title deeds of their property with the bank as collateral for the loan.
DOCUMENTS REQUIRED FOR MODT REGISTRATION IN BANGALORE
To successfully register the MODT, the following documents are typically required:
- MODT Document issued by the lending bank.
- Exemption Letter – Applicable if the bank is exempted from personal appearance under Section 88 (commonly applicable for nationalized banks).
- Authorized Signatory’s ID Proof – The identification document should be duly attested by the bank.
- Borrower’s ID Proof – Aadhaar, PAN or Passport
- e-Khata of the property.
- Application Summary Report from Kaveri Online Services.
- Stamp Duty and Registration Fee Payment Receipt (Challan)
NEED ASSISTANCE WITH MODT REGISTRATION IN BANGALORE
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