A Mortgage Modification Agreement is essential when parties need to alter the terms of an existing mortgage arrangement in Indonesia. This document is commonly used during financial hardship, interest rate adjustments, or when restructuring payment terms to prevent default. It must comply with Indonesian banking regulations, particularly Law No. 4 of 1996 on Mortgage Rights and Financial Services Authority (OJK) regulations. The agreement typically requires notarization and registration with the National Land Office (BPN) to be legally effective. It includes details of the original mortgage, specific modifications being made, and confirmations that the original security remains valid. This document is particularly relevant in situations involving loan restructuring, payment term modifications, or interest rate adjustments, while ensuring all changes comply with Indonesian banking and property laws.
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 the lender and borrower, including their complete legal names, addresses, and registration details
2. Background: Recitals explaining the existing mortgage agreement, reason for modification, and confirmation that the original security remains in place
3. Definitions: Key terms used in the agreement, including references to the original mortgage agreement and new terms specific to the modification
4. Modification Terms: Specific changes to the original mortgage terms (e.g., interest rate, payment amount, loan term)
5. Confirmation of Other Terms: Affirmation that all other terms of the original mortgage remain unchanged and in full force
6. Representations and Warranties: Statements by borrower confirming their continued ability to meet obligations and that no defaults exist
7. Conditions Precedent: Requirements that must be met before the modification takes effect
8. Registration and Notarization: Requirements for registering the modification with relevant authorities and notarization requirements
9. Costs and Expenses: Allocation of costs related to the modification
10. Governing Law: Confirmation of Indonesian law as governing law and jurisdiction
11. Execution: Signature blocks and execution requirements
1. Additional Security: Required if additional collateral is being added as part of the modification
2. Release of Guarantors: Include if any existing guarantors are being released from their obligations
3. New Guarantors: Required if new guarantors are being added as part of the modification
4. Insurance Requirements: Include if there are changes to insurance requirements
5. Default Cure: Include if the modification is being made to cure an existing default
6. Tax Provisions: Required if there are specific tax implications of the modification that need to be addressed
1. Schedule 1 - Modified Payment Schedule: Detailed schedule of new payment amounts, dates, and interest calculations
2. Schedule 2 - Property Details: Updated description and registration details of the mortgaged property
3. Schedule 3 - Original Mortgage Agreement: Copy or details of the original mortgage agreement being modified
4. Appendix A - Required Regulatory Forms: Forms required by Indonesian authorities for registration of the modification
5. Appendix B - Consent Documents: Any required consent documents from third parties, guarantors, or regulatory authorities
6. Appendix C - Updated Insurance Certificates: If applicable, copies of updated insurance certificates reflecting any changes
Find the exact document you need
Private Home Loan Contract
An Indonesian law-governed agreement establishing terms and conditions for a private home loan, including security arrangements and repayment terms.
Download
Mortgage Loan Contract
An Indonesian law-governed mortgage loan agreement establishing terms for property-secured lending and compliance with local banking and property regulations.
Download
Land Mortgage Agreement
An Indonesian law-governed security agreement creating a mortgage (Hak Tanggungan) over land and buildings in favor of a creditor.
Download
Home Loan Agreement
An Indonesian law-governed agreement establishing terms and conditions for a residential property loan between a lender and borrower, compliant with local banking and consumer protection regulations.
Download
Standard Mortgage Contract
An Indonesian law-governed mortgage agreement creating security rights (Hak Tanggungan) over real property to secure loan repayment.
Download
Owner Financing Mortgage Contract
An Indonesian law-governed agreement establishing terms for seller-financed property purchase, including security arrangements and payment terms.
Download
Seller Financed Mortgage Contract
An Indonesian law-governed agreement combining property sale and seller-provided financing terms, establishing payment schedules and security interests under local property regulations.
Download
Mortgage Modification Agreement
An Indonesian law-governed agreement that modifies existing mortgage terms between lender and borrower, requiring notarization and registration with the National Land Office.
Download
Private Mortgage Contract
An Indonesian law-governed agreement establishing terms and security interests for a private mortgage arrangement, including loan terms and property security details.
Download
Genie’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; Genie’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)
.png)