The Mortgage Buyout Agreement is a crucial legal instrument used in Indian real estate transactions when a new buyer wishes to take over an existing mortgage obligation. This document is essential when the original mortgagor wants to transfer their mortgage obligations to another party, typically during property sales or refinancing arrangements. The agreement must comply with Indian property laws, including the Transfer of Property Act, 1882, Registration Act, 1908, and relevant banking regulations. It includes detailed provisions about the property, outstanding mortgage amount, transfer terms, and completion requirements. The document is particularly important in scenarios involving distressed properties, refinancing situations, or when buyers wish to assume existing mortgage terms rather than creating new mortgage arrangements.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identification of all parties involved - current mortgagor, new buyer/mortgagor, existing lender
2. Background: Context of the existing mortgage, property details, and reason for buyout
3. Definitions: Key terms used throughout the agreement including Property, Existing Mortgage, Completion Date, etc.
4. Existing Mortgage Details: Complete details of the current mortgage including outstanding amount, terms, and security
5. Buyout Terms: Specific terms of the buyout including purchase price, payment mechanism, and settlement details
6. Completion Requirements: Actions required by each party to complete the buyout transaction
7. Representations and Warranties: Statements of fact and assurances from all parties regarding their capacity, authority, and property status
8. Property Transfer Mechanics: Process for transferring property rights and mortgage obligations
9. Registration and Stamp Duty: Requirements for document registration and payment of applicable stamp duty
10. Costs and Expenses: Allocation of transaction costs, taxes, and professional fees
11. Governing Law and Jurisdiction: Specification of Indian law application and jurisdiction for disputes
1. Third Party Consents: Required when additional consents (e.g., from housing society, local authorities) are needed
2. Multiple Properties: Additional provisions when the mortgage covers multiple properties
3. Interim Period Provisions: Provisions governing the period between agreement signing and completion
4. Tax Indemnities: Specific tax-related indemnities when complex tax implications are involved
5. Outstanding Charges: Provisions for dealing with any pending charges or encumbrances
6. Property Management: Provisions for property management during the transition period
7. Default and Remedies: Detailed provisions for handling default scenarios
8. Assignment Rights: Provisions allowing/restricting assignment of rights under the agreement
1. Property Description: Detailed legal description of the mortgaged property
2. Existing Mortgage Documentation: Copies or details of current mortgage deed and related documents
3. Outstanding Amount Calculation: Detailed calculation of the mortgage buyout amount including principal, interest, and charges
4. Completion Checklist: List of documents and actions required for completion
5. Form of Transfer Deed: Template or draft of the property transfer deed
6. Required Consents: List and copies of all required third-party consents
7. Payment Schedule: If applicable, schedule of payments and payment mechanics
8. Property Encumbrances: List of existing encumbrances, charges, or liens on the property
Find the exact document you need
Agreement Of Mortgage
An Indian law-governed agreement creating a security interest in immovable property as collateral for a loan or debt obligation.
Download
Mortgage Loan Modification Agreement
An Indian law-governed agreement that modifies existing mortgage loan terms between lender and borrower while maintaining the original security structure.
Download
Shared Appreciation Agreement
An Indian law-governed agreement establishing terms for sharing future property appreciation between parties, including valuation, investment terms, and payment mechanisms.
Download
Private Home Loan Contract
An Indian law-governed agreement establishing terms and conditions for a private home loan, including loan amount, interest rates, and security arrangements through property mortgage.
Download
Land Mortgage Agreement
An Indian law-governed agreement creating a security interest in immovable property to secure a loan, subject to registration and stamp duty requirements.
Download
Chattel Mortgage Security Agreement
An Indian law-governed security agreement creating a mortgage over movable property (chattel) to secure financial obligations, governed by the Transfer of Property Act.
Download
Mortgage Fee Agreement
An Indian law-governed agreement that establishes the fee structure and payment terms for mortgage-related charges between a lender and borrower.
Download
Escrow Agreement To Hold Funds
An Indian law-governed agreement establishing terms for third-party fund holding and management, compliant with RBI guidelines and Indian Contract Act.
Download
Partial Mortgage Release Agreement
An Indian law-governed agreement that releases a specific portion of mortgaged property while maintaining the mortgage over the remaining property, subject to the Transfer of Property Act, 1882.
Download
Mortgage Buydown Agreement
An Indian law-governed agreement that establishes terms for temporarily reducing mortgage interest rates through buydown funds, detailing payment schedules and party obligations.
Download
Mortgage Deferral Agreement
An Indian law-governed agreement that enables temporary deferral of mortgage payments while maintaining the original security structure and compliance with RBI regulations.
Download
Home Loan Purchase Agreement
An Indian law-governed agreement between a lender and borrower establishing terms and security for a residential property purchase loan.
Download
Owner Financing Mortgage Contract
An Indian law-compliant mortgage agreement where the property seller directly finances the buyer's purchase, including payment terms and security provisions.
Download
Mortgage Bond Agreement
An Indian law-governed agreement creating a security interest in real property to secure a loan, establishing mortgage terms and enforcement rights.
Download
Mortgage Buyout Agreement
An Indian law-governed agreement facilitating the transfer of mortgage obligations from an existing mortgagor to a new buyer, including terms of property transfer and financial settlements.
Download
Mortgage Loan Purchase Agreement
An Indian law-governed agreement for the transfer of mortgage loans between financial institutions, detailing purchase terms, compliance requirements, and post-sale arrangements.
Download
Joint Mortgage Agreement
An Indian law-governed agreement where multiple parties jointly mortgage a property to secure a loan, detailing terms, obligations, and enforcement rights.
Download
Reverse Mortgage Agreement
An Indian law-governed agreement enabling senior citizens to obtain regular payments against their home equity while retaining residence rights.
Download
Third Party Mortgage Agreement
An Indian law-governed agreement creating a mortgage over third-party owned property to secure a principal debt obligation.
Download
Mortgage Purchase Contract
An Indian law-governed agreement for the transfer of mortgage rights and obligations between parties, compliant with Indian property and banking regulations.
Download
Mortgage Assignment Agreement
An Indian law-governed agreement transferring mortgage rights and obligations from one party to another, including all associated property rights and regulatory compliance requirements.
Download
Mortgage Extension Agreement
An Indian law-governed agreement extending an existing mortgage arrangement, modifying terms while maintaining security arrangements under Indian property and banking regulations.
Download
Mortgage Lease Agreement
An Indian law-governed agreement combining mortgage security and property lease terms, establishing rights and obligations between property owner, financial institution, and tenant.
Download
Mortgage Modification Agreement
An Indian law-governed agreement that modifies existing mortgage terms between lender and borrower while maintaining the original security structure.
Download
Private Mortgage Contract
An Indian law-governed agreement creating a mortgage over property as security for a loan, detailing terms, conditions, and enforcement rights.
Download
Mortgage Assumption Agreement
An Indian law-governed agreement transferring mortgage obligations from an original borrower to a new party, subject to lender approval and property law requirements.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)