Mortgage

What?

A registered deed that conveys the conditional right of title on the property of its owner (the mortgagor) to a lender (the mortgagee) as security for a Mortgage loan/home loan. This document is compulsorily registered to make it public information, and is void when the loan is repaid in full.

Types of mortgage:

  • Simple Mortgage
  • Mortgage by deposit of title of deeds (MODT)