Document background
A Mortgage Receipt is an essential document in Malaysian property transactions, issued by financial institutions to acknowledge and record mortgage-related payments. This document is required under Malaysian banking regulations and property laws, particularly the National Land Code 1965 and Financial Services Act 2013. It serves multiple purposes: providing proof of payment, maintaining transaction records for both conventional and Islamic mortgages, and meeting regulatory compliance requirements. The receipt contains crucial information including property details, payment information, mortgage account status, and authentication elements. It's particularly important for maintaining accurate records of property transactions, facilitating audit trails, and protecting both the financial institution's and borrower's interests in the Malaysian property market.
