Kagaznama

Co-Borrower Consent and Undertaking

At a glance

Price: Free
Stamp duty: Creates no liability itself, so not a guarantee/indemnity/mortgage — falls under the residuary Article 5, Schedule I-A (Punjab and Chandigarh): a fixed sum, not %; ask the Sub-Registrar.
Registration: Not registrable (s.17) — no property interest created.
Witnesses: Contractual, not s.59's statutory witnesses — follow whatever the lender requires.

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Also called

joint borrower consent
co-borrower undertaking

When you need it

A lender wants a co-borrower's clear consent and undertaking before or alongside the loan documents. Co-borrower status is about debt liability — it doesn't itself make someone a property owner, and a co-owner may still need to sign the mortgage separately.

State the loan, both parties, property role, repayment liability and KYC consent. Don't disguise a joint-borrower obligation as something lesser; share the Key Fact Statement before final acceptance. Data-verification consent isn't consent to unrelated future use.

Whether you can fill this in here

You can fill this in here

You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

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See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

Creates no liability itself, so not a guarantee/indemnity/mortgage — falls under the residuary Article 5, Schedule I-A (Punjab and Chandigarh): a fixed sum, not %; ask the Sub-Registrar. Reworded to undertake payment or cover the lender's loss, it becomes a guarantee/indemnity instead.

Registration

Not registrable (s.17) — no property interest created. Charging property too makes it a mortgage: registered, two witnesses (s.59, TPA 1882), unless by deposit of title deeds.

Notarisation

Only if the lender wants a sworn/attested form.

Witnesses

Contractual, not s.59's statutory witnesses — follow whatever the lender requires.

Request Stamp Paper

Sample preview — placeholder answers, not your data

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CO-BORROWER CONSENT AND UNDERTAKING

Date: 1 April 2026

Primary borrower: Aarav Sharma, Sector 21, Panchkula. Lender: ABC Bank Ltd, Sector 17, Chandigarh. Loan: HL-2026-118; amount ₹90,00,000 (Rupees Ninety Lakh only).

Co-borrower: Naina Sharma, Sector 21, Panchkula.

ROLE

Property role: Co-owner/co-purchaser of secured property. Liability understanding: Co-borrower accepts joint repayment obligations under lender documents.

VERIFICATION CONSENT

Lender may verify co-borrower income, credit and KYC through lawful consent channels.

Special condition: No ownership transfer is created by this undertaking.

This undertaking does not itself transfer property ownership or create a mortgage. The final loan/security documents govern the obligations actually accepted.

SIGNATURE

______________________________
Signature
Co-borrower: Naina Sharma
Place: ____________________
Date: 1 April 2026

PERSONAL DATA NOTICE

This notice is given under the Digital Personal Data Protection Act, 2023.

Personal data in this document is collected only to record informed participation of the proposed co-borrower in the stated loan process, communicate about that purpose, verify expressly supplied lending, identity and property information, and retain an evidentiary transaction record.

The record will be held by Kagaznama and may be shared only with the borrower, co-borrower, guarantor, lender, authorised professional, registering or revenue authority, Central Registry/CERSAI-related service, insurer or other person directly involved in the stated credit or security transaction.

If the transaction is withdrawn, refused or cancelled, personal data will be retained for 90 days and then erased. If the transaction proceeds, the record will be retained for the loan/security term plus 12 months, except where a named statutory or regulatory record-retention period requires longer retention.

A person named here may withdraw consent for future consent-based processing, request correction or erasure when the stated purpose has ended, or raise a grievance by writing to privacy@example.com. The record-holder should acknowledge and respond within 30 days.

Data minimisation: this document does not collect full Aadhaar numbers, Aadhaar-card copies, passwords, PINs, OTPs or unrelated bank credentials, and none should be written into it. Use masked account/identity references where an identifying reference is genuinely necessary.

Personal-data instruction: I consent to the collection and use described in the Personal Data Notice.

Record-holder: Kagaznama

Questions about this document

Does the Co-Borrower Consent and Undertaking need stamp paper or stamp duty in Punjab and Chandigarh?

Creates no liability itself, so not a guarantee/indemnity/mortgage — falls under the residuary Article 5, Schedule I-A (Punjab and Chandigarh): a fixed sum, not %; ask the Sub-Registrar.

See the full position on stamp duty, registration and witnesses

Does the Co-Borrower Consent and Undertaking need registration in Punjab and Chandigarh?

Not registrable (s.17) — no property interest created.

See the full position on stamp duty, registration and witnesses

What does the Co-Borrower Consent and Undertaking cost on Kagaznama?

Free.

Documents are free. Kits are free during our launch.

Does the Co-Borrower Consent and Undertaking need witnesses?

Contractual, not s.59's statutory witnesses — follow whatever the lender requires.

See the full position on stamp duty, registration and witnesses

Often needed with this document

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