Mortgage Deed Form

A deed is a legal document that is signed between a creditor and debtor as insurance or guaranty for the safe and secure return of the loan. On the other hand, a deed in real estate property is a document that indicates towards the actual owner of the property or the new buyer in case of selling of the property.

Introduction to the Mortgage Deed:

A mortgage deed is a written agreement between two parties i.e. individuals or companies in which one is borrowing money from the other one. Unlike a simple loan agreement or a loan deal, in mortgage deed, the debtor agrees to pledge some property with the creditor as collateral so that if the debtor is unable to pay back the debt or goes bankrupt, the creditor can sale the pledged property and collect his debt. The agreement written and signed between the debtor and creditor in this process is known as the mortgage deed.

Difference between Mortgage Deed and Promissory Note:

When an individual borrows money from another person on personal basis, they don’t need to sign a legal loan agreement but they can also use a promissory note. In the promissory note, the borrower states that he has in fact borrowed a certain amount of money from the mentioned person and he is willing to pay back the debt as soon the creditor or lender makes a formal demand. In this process, there is always good chance that the debtor won’t return the money due to many reasons and as there is no guaranty, the creditor won’t see his money again. Unlike the promissory note, the mortgage deed is secured by the pledge of a piece of property with the creditor and if the debtor denies paying back the debt, the creditor has the legal right to sell and collect his debt.

Benefits of using Mortgage Deed:

There are many benefits and advantages of using mortgage deed over simple loan agreement but the most important benefit of this deed is that there is enough guaranty or assurance for the creditor that he doesn’t need to worry about the debtor running away or going bankrupt. In particular situation, if the debtor does go bankrupt or denies paying the debt back, the creditor has the opportunity of selling the pledged property and rearranging his debt without going after the debtor or introducing a mediator or third party in the deal.

Key elements to include in the Mortgage Deed:

  • Name of the person who is the actual owner of the property with complete address
  • Name of the person who is lending money to the owner with complete address
  • Date when the mortgage deed is being prepared and signed
  • Details of the property being pledged as collateral in the deed
  • The availability of the ownership documents (i.e. with actual owner or the creditor)
  • Details of money borrowed by the debtor
  • Details of the payments for return of the loan with dates and periodic payment schedule (if applicable)
  • Terms and conditions of the mortgage deed
  • Validation, expiration and termination of the mortgage deed
  • Signature of both parties with witnesses

Here is preview of a Free Sample Mortgage Deed Form created as fillable PDF form,

Mortgage Deed Form

Here is download link for this Mortgage Deed Form,

Download Mortgage Deed Form

Related Fillable PDF Forms

  • Warranty Deed FormWarranty Deed Form A Warranty Deed is like a bill of sale but it is exclusively used for selling and buying property or real estate. If you want to sell your house, apartment, farm house or a building to someone, you both need to sign the warranty deed and it will serve the purpose of a legal proof of […]
  • Pledge of Personal Property Contract TemplatePledge of Personal Property Contract Template If you want to get loan from a bank or a loan firm, you need to provide some kind of security to the creditor as insurance for the safe and full return of the debt. You can either introduce a third party as guarantor for the return of the loan or you can give certain rights of your […]
  • Mortgage Bond FormMortgage Bond Form A bond is a written agreement between two parties in which a party gives money to the other one and receives a certain amount of interest for every month or once a year and the guaranty of the interest and return of the loan capital is backed with the secure document known as the […]
  • Notice of Purchase Money Security InterestNotice of Purchase Money Security Interest When a bank or creditor wants to get money by selling the security interest to potential buyers, the creditor is obligated to inform the debtor with a formal notice in order to ask him if he wants to buy the collateral property or shares or if he allows the creditor to sell the property […]
  • Sample Surety BondSample Surety Bond A surety bond is kind of an insurance or guaranty agreement that includes three parties or individuals. The first party is the debtor or the person who owes money or services to another party. The second party is the principal which can be an individual or a company which is secured with […]
  • Quitclaim Deed / AgreementQuitclaim Deed / Agreement When a person sells or buys real estate property, they have to sign a legal document known as property transfer deed which serves as the legal proof of the selling or buying process. The quitclaim deed that we are discussing here is the same kind of document that is used for transferring […]
  • Pre-settlement Real Estate Disclosure Agreement TemplatePre-settlement Real Estate Disclosure Agreement Template When entering in a deal, if either party i.e. buyer or seller wants the other party not to disclose any information or details of the deal until the deal is finalize and a contract is signed between the parties, they sign the disclosure agreement. With the disclosure agreement, both […]
  • Mortgage Assignment NoticeMortgage Assignment Notice Mortgage is type of loan that individuals and companies take from banks and loan firms. In this process, some kind of real estate property is pledged or given to the creditor by the borrower or debtor as insurance or guaranty of the safe return of the loan amount. This also explains that […]
  • Debt Re-affirmation Agreement SampleDebt Re-affirmation Agreement Sample In case you have financial problems or you just want to have a new start, you declare bankruptcy and by declaring that, you free yourself from all the debts and loan payments because with bankruptcy, the court orders your creditors that you can’t pay your debt and they have to consider […]
  • Payment Default NoticePayment Default Notice When a person gets loan or mortgage loan for residential property, he agrees to make periodic installments to the Loan Company or bank with interest rate. If some how he can’t make the loan installments on time, he is known as the default in payment. Introduction to the Payment […]