Sample agreement of mortgage house. Financial crisis can dawn upon any individual and at any time. Getting out of this depression requires sound help and it can be availed in shape of mortgaging the house till repayment of the loan.
Sample Agreement of Mortgage House
To whom it may concern
Government of Islamic Republic of Pakistan Rs-500 stamp paper Mortgage of house
It is to notify that Mr. Khawar Hussain owner of 8 Marla double Storey building in Lahore is a permanent resident of this residential area from the past thirty areas. The address is street no 5, house no 13 deaf and dumb society. He has recently suffered a set-back in the newly initiated business of children garments and he started the business by taking loan from the bank. Now, currently, he has to pay the loan to the bank and for that reason he wanted to mortgage his house. He is in agreement of mortgage with Mr. Tayyab Khalil who agreed to pay the amount of ten million for five years to Mr. Khawar Hussain.
In the time duration of five years Mr. Khawar Hussain s/o Hussain mayo is held liable to pay the amount to Mr. Tayyab Khalil but he fails to do so he demand to Mr. Tayyab Khalil to extend the time duration and reserve no rights to vacate the house from him. In case Mr. Khawar Hussain does so, he will immediately be taken to police custody and the mortgage family will stay in the same house until and unless the recovery of the payment due on Mr. Khawar Hussain.
Signature of Owner: M.Khawar Hussain CNIC: 33334-000- 65-0
Signature of Mortgage: M. Tayyab Khalil CNIC: 33312-52234- 1
Witness: no: 1(from owner): Mr. Aoun Abbas
Address: House No. 78, Street No. 56 Main Boulevard Scheme CNIC: 3354-988845- 3
Witness no: 2 (from mortgage): Mr. Hussain Butt
Address: House No. 6, Street No, 8 Main Blue Area sector CNIC: 33598- 234465-5