All templatesREPUBLIC OF KENYA
THE LAND REGISTRATION ACT
THE LAND REGISTRATION (GENERAL) REGULATIONS, 2017
CHARGE
TITLE NUMBER: Nakuru/Municipality Block 4/1182
Date of Issue: ....................
The Chargor: Peter Kiprono Rotich
The Chargee: Equatorial Commercial Bank Limited
Principal Amount: KES 12,000,000
Borrower: The Chargor
THIS CHARGE witnesses as follows:
1. The Chargor as legal and or beneficial owner HEREBY CHARGES to the Chargee the interest of the Chargor in the above Title as a continuing security for the payment and discharge in full of all monies, obligations and liabilities covenanted to be paid or discharged or otherwise secured by this Charge.
2. The Chargor hereby authorises the Chargee and its agents to register the security created by this Charge in accordance with the provisions of the Land Act (Cap. 280) and the Land Registration Act (Cap. 300) to the satisfaction of the Chargee.
Additional provisions:
3. Interest is payable on the Principal Amount at 14% per annum, reducing balance.
4. The Principal Amount and interest are repayable as follows: 120 equal monthly instalments commencing 1 December 2026.
5. The Chargor discloses the following in relation to the Title: Existing first charge dated 3 March 2021 in favour of Rafiki Microfinance Bank Limited for KES 2,000,000.
Acknowledgement of Effect of Section 90 of the Land Act (Cap. 280)
Conveyancing & Real Estate
Charge / Mortgage Deed template (Kenya)
What it is for
Legal charge and security deed over immovable property.
The Kenyan law it follows
- Land Registration (General) Regulations, 2017 — regulation 67(1) and Form LRA 53
- Land Registration Act Cap 300 — s.56 (a charge is in the prescribed form and contains the chargor's signed acknowledgement of the chargee's remedies; where no repayment date is fixed the money is repayable three months after written demand; completed by registration), s.45 (verification of execution)
- Land Act Cap 280 — s.79 (charges, including s.79(3): a charge of a matrimonial home must be executed or assented to by the chargor and any spouse living there; s.79(5): a formal charge takes effect only on registration), s.80 (a charge is a security only), s.90 (the chargee's remedies and the notices that come first)
Who prepares it
This is normally drawn by an advocate, and where it is a court paper, filed by one. The sample shows what the finished document looks like.
Draft this for your matter
Advocates draft this on Lex from their own facts and download it in Word. If you need one prepared for you, find an advocate.
Sample charge / mortgage deed
The first part of the sample is shown here. The names, amounts and facts are made up to show how the document reads.
The rest of this charge / mortgage deed is for Lex members
Create a free account to read the whole sample, draft it for your matter and download it in Word.
This is a sample for general information. It is not legal advice and may not suit your situation. Laws change, and a document has to fit your own facts; have an advocate check it before you rely on it.