Mortgage Form Document

A mortgage form document is one which outlines the terms and conditions between a mortgagee and a mortgager regarding the mortgaging of a particular piece of real estate. It contains all the necessary details and also plays an important role as a piece of evidence of the deal itself. Care should be made to keep all the information accurate and precise, and the correct legal form must be used to create the mortgage form document.

Sample Mortgage Form Document

MORTGAGE FORM      

Form No____________

This is to inform all concerned that a mortgage deal between ________________________ and ___________________ is hereby affected as on the ______________. The mortgage rate of interest is ___________compound interest per annum. The mortgagee has to pay an initial deposit amount of ________________ in lieu of which he shall be paid a lump sum amount of ___________________. This amount will have to be paid back over a period of ______________ at the rate of interest mentioned above. On failing the payment of the complete amount by the __________________ the mortgage will be controlled by the mortgager, and the property in questions will be sealed as per state orders.

The property to be mortgaged is estimated at ___________, and is of an area of _____________________. It contains an apartment as well which too is part of the mortgage and is liable to be sealed off if the debt is not paid back on time. Both parties are required to understand the terms and conditions of the document and care should be taken to be completely aware of the formal negotiations of the mortgage deal. Any doubts or misunderstanding must see the case referred to the Session Court of New York. The court carries sole jurisdiction over the case.

Signature of mortgagee: ______________________

Signature of mortgager: _______________________

Signature of witness: _________________________

Place: _______________

Date: __________________


Posted in Mortgage Documents