If you’re considering a property loan, you’ve probably encountered the term “Memorandum of Deposit of Title Deeds” or MoDT. But is MoDT mandatory, and if so, who mandates it-the bank, government, or RBI? Let’s simplify this for you: What Exactly is MoDT? A Memorandum of Deposit of Title Deeds (MoDT) is a formal legal document. […]
Is MoDT Mandatory? Understanding Bank, Government, And RBI Guidelines Read More »
When you take a home loan or property loan from a bank or financial institution, you typically need to execute a Memorandum of Deposit of Title Deeds (MoDT). This document legally confirms that your property acts as security against the loan. What is MoDT Execution? MoDT execution is the formal process of registering your property
If you’re planning to take a home loan, you’ve probably come across the term “Memorandum of Deposit of Title Deeds” or MoDT. A common question we receive at Lendly is whether registering a MoDT at the Registrar’s office is mandatory. Here’s the quick answer: It depends! All nationalised banks, NBFCs (Non-Banking Financial Companies), and most
