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The Letter of Mortgage is a crucial document in Saudi Arabian real estate financing, used to formally establish and record a mortgage agreement between a property owner and a financial institution. This document is essential when securing property financing in Saudi Arabia and must strictly comply with both civil law requirements and Islamic Sharia principles. The Letter of Mortgage includes detailed information about the mortgaged property, parties involved, payment terms, and obligations, while ensuring all arrangements are interest-free and Sharia-compliant. It serves as a legally binding document that must be registered with relevant authorities and typically requires notarization. The document is governed by the Saudi Real Estate Finance Law and SAMA regulations, making it a fundamental instrument in Islamic property financing.

1. Date and Reference Number: The official date of the letter and any reference numbers for tracking purposes

2. Parties' Details: Full legal names and details of both the mortgagor and mortgagee, including their official identification numbers

3. Property Description: Detailed description of the mortgaged property, including title deed number, location, boundaries, and area

4. Mortgage Amount and Terms: The principal amount being secured, payment terms, and duration of the mortgage

5. Sharia Compliance Declaration: Statement confirming the mortgage arrangement complies with Islamic Sharia principles

6. Rights and Obligations: Key responsibilities of both parties, including maintenance, insurance, and payment obligations

7. Default Provisions: Consequences and procedures in case of default

8. Governing Law Statement: Confirmation that Saudi law and Sharia principles govern the mortgage

9. Signature Block: Space for official signatures, attestations, and notarization