If there is no individual title deed to the land yet e.g. land was originally subdivided from a big piece of land where the subdivided smaller pieces have been issued individual title deeds. This means the big piece of land still under a master title deed. Therefore there is no individual title deed for the borrower to charge to the bank.
However the bank can still disburse the loan to the borrower after the borrower signed the DoA, which is a legal undertaking to surrender the individual title deed to bank when borrower eventually gets it. DoA also need the agreement of original landowener who undertakes to give individual title deed to borrower (Purchaser) once obtained from land office.
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