Canceling a Memorandum of Deposit of Title Deed (MODT) in India is necessary when you repay your home loan or wish to release your property from mortgage. But how to cancel MODT? The MODT is an agreement under which you pledge your property title deeds to the lender as security for the loan. Once the loan is fully repaid, you must follow a legal process to cancel the MODT and reclaim your original documents.
What are the MODT Cancellation Process?
The first step is to obtain a No Objection Certificate (NOC) or loan closure letter from your lender, confirming that the loan has been fully repaid.
Next, you must submit a request to the lender for the release of your original property documents.
The lender will then initiate the MODT cancellation process by submitting a request to the sub-registrar’s office where the MODT was originally registered. You will need to provide key documents such as the loan closure letter, identity proof, address proof, and the original MODT agreement.
Once the lender submits the cancellation request, you must visit the sub-registrar’s office to complete the formalities. The office will verify the documents and process the cancellation, after which you will receive your original title deeds.
It is advisable to keep a certified copy of the cancellation receipt for future reference. The entire process may take a few weeks, depending on the efficiency of the local authorities.
If you face delays, you can follow up with the lender or seek legal assistance. Ensure all dues are cleared before initiating the cancellation to avoid complications. Properly canceling the MODT is crucial to regain full ownership of your property and avoid legal disputes later.
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How to Cancel MODT?
anita
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2025-06-17T12:02:23+00:00 2025-07-02T13:51:07+00:00Comment
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