Before we move on to the topic of the know-how of a Conveyance deed, it is important to know exactly what this is. Any legal document between a person who is transferring the property and the one in whose name the property is being transferred can be termed a Conveyance Deed. This deed proves that a title or ownership of the property has been transferred from one person to another. It is also an important document to prove that the property is free of any type of restrictions and/or disputes. This document can be produced in court, in case of any dispute relating to the agreement, as it carries the signatures of both the parties.
Contents in the Document
The conveyance deed contents are clearly marked. They are as follows:
1. The actual demarcation of the concerned property – All the details regarding the distinction and division of the property are clearly edged in the deed
2. The information about both the related parties – All the information like name, age, addresses, and other related details of both the parties are listed here.
3. The signature – This deed bears the signatures of both the parties involved.
4. Terms and Conditions – All the relevant terms and conditions related to the transfer of the property is mentioned in this document.
5. Delivery details – This entails the method by which the property would be delivered to the buyer.
6. Title – The chain of title is registered in a clear-cut manner in the deed
7. Sale deed – The most important aspect of the sale of any property, is the sale the deed is clearly marked in the Conveyance deed.
8. Others – If there are any other applicable transfers of ownership rights, these are also clearly mentioned in it.
Importance
The importance of the conveyance deed cannot be overlooked. It is extremely useful in the following scenarios:
1. In case of a legal dispute, this deed works as a piece of very strong evidence, as it has all the terms and conditions clearly marked and stated.
2. This deed legalizes and affirms the transfer of the property rights to the buyer.
3. This deed is also strong proof for the buyer regarding the ownership of the land.
4. In order to certify that the concerned property is free from any dispute, the Conveyance deed holds a strong position.
How to get it?
The procedure to get a conveyance deed is done on a non-judicial stamp paper. Registering it in a Registrar’s office is the next step in attaining the deed. After having the deed registered, the transfer of the property moves to the public domain. The stamp duty and registration fees are obtained by the government as revenue. Once this is done, the entire procedure of the conveyance deed is completed.
If a situation arises, where the builder is not alive, then the procedure can be completed by the legal representatives or the heirs of the builder. In such cases, the related person would be required to draft and apply it.
Difference between a Conveyance Deed and a Sale Deed
Many times, people make the mistake of interchanging the Conveyance deed and the Sale deed, but they are not the same. A Sale deed, like a Conveyance deed, is used to transfer property from one entity to another. But the Sale deed is more appropriate when the title or ownership of a property is transferred in return for money, whereas the Conveyance deed is appropriate when the transfer of property is done as a result of a gift, an exchange, or a lease.
Documents required for a Conveyance Deed
The documents required for a Conveyance Deed are as follows:
1. The Sale agreement
2. The property card or the mutation entries
3. The approved layout plan, the location plan, and the city survey plan
4. Certificate under Urban Land Ceiling Act, 1976
5. Approved building or structure plan
6. Architect certificate about the entitlement of undivided interest in the common areas, layout plot, and amenities by each entity or structure built or to be built on the layout plot
7. Commencement certificate of the property
8. Completion certificate of the property
9. Occupancy certificate of the property
10. List of owners of the property
11. Proof of stamp duty fee payment and registration
12. The development agreement, power of attorney (POA), or sale agreement (if performed by the seller)
13. Draft conveyance deed or declaration proposed to be implemented in favor of the applicant
Is it possible to cancel a Conveyance Deed?
According to sections 31 to 33 of the Specific Relief Act, 1963, the cancellation of a Conveyance Deed is possible if the deed is deemed voidable by an individual or can pose to be harmful to him/her in case of remaining unresolved. In the scenario of the deed being registered as per the laws of the Indian Registration act, 1908, the Conveyance Deed can be canceled by mutual agreement of the involved parties.
3 thoughts on “All you need to know about Conveyance Deed”
Pingback: What to do when you have lost your Sale Deed
Pingback: What To Do If You Have Lost Property Sale Deed
Pingback: Which are the Most Important Clauses in a Purchase Agreement?