By:
Noman Ahmed
KASB Bank
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Interpretation
Sale & Purchase of asset
Payment of Price
Responsibility of Bank
Prepayment
Customers Presentations & Warranties
Security
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Fees & Charges
Events of Default
Declaration & Rights
Indemnity Clause
Address
Cancellation or Reduction
Termination
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Remedies & Waivers
Provisions regarding Amendments
Further documents
Governing Law
Signatures & Thumb impression
Schedule
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Repayment Schedule
Suggested Paragraph
Prudential Regulation
Prompt payment bonus
Purpose of the mortgaged property
Authority Letter for taking possession of the
register document
Intimation letter for equitable mortgage
Date of execution of financing agreement
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As per section 58 (f) of Transfer of Property
Act “Where a Person delivers to a creditor or
his agent documents of title to immovable
property, with intent to create a security
thereon, the transaction is called a
mortgage by deposit of title of deed”
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Debt
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Deposit of Title Deed
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Intention to create a security thereon
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Technical Points to be observed
◦ Past tense
◦ Filling of date
◦ Specific property
◦ Property that may come to existence in future
◦ Title deed must connect the customer with property
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Technical Points to be observed
◦ Document deposited must be title deed
◦ Financing agreement date
◦ Signature of customer on every page
◦ Detail of title deed
◦ Witnesses
What is GPA
 Why and when applicable
 Legal implications
 Financial Charges for GPA
 Kinds of GPAs
 Importance
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Property governed by an authority
◦ PTM is tantamount
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Free hold land
◦ Lien marked fard
◦ Oral gift
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Security
Redemption Deed
Addition to Equitable charge
Mandatory requirement
Search certificate
Must be mandatory
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Letter of intimation to concern Sub-Registrar
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Ensure that property is in Ban list
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Application Form
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Sanction Letter
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Financing Agreement
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MODTD
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Undertaking for completion of Post
transaction Formalities (if any)
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Intimation letter regarding Equitable
Mortgage to the concerned Sub Registrar
Lien Marking in Record of rights (Specifically
in Revenue Record properties)
Token Registered Mortgaged
Authorization to take possession of the
Registered Document in case of Purchase of
Property.
“Repayment schedule; means the Repayment
Schedule attached hereto as Schedule II, as
amended and/ or replaced, from time to time, in
accordance with the terms hereof depending
upon the ____ prompt payment bonus and ____
Months KIBOR-ASK side (Base Rate) plus ___ Basis
point without prompt payment bonus. Upon such
revision, the purchase price mentioned in clause
___ above, shall be deemed to have been
correspondingly increased or decreased or and
the Re-payment Schedule annexed hereto as
Schedule II shall also be amended and replaced
by the Bank”