Memorandum for the deposit of title deed or MODT is applicable for all home loan borrowers. It is essentially an undertaking given by you that you are depositing the title documents of the property with the bank at your own free will in return for a loan.A MODT is a part of the State Government requirements and has to be registered in addition to the loan agreement and has to be registered at the Sub-Registrar Office. It is mandatory in a few states, but not in all states. The pledged property is endorsed at the Sub-Registrar office.