#DEFINITION OF CONVEYANCE IN REAL ESTATE REGISTRATION#
#DEFINITION OF CONVEYANCE IN REAL ESTATE FREE#

Layout plot plan and structure plan approved by the appropriate authority.

Location plan and survey plan from the revenue department.

Registered Agreement for sale of property with the seller.

List of required documents for Conveyance Deed On the conveyance deed, a buyer has to pay a stamp duty. Also, in some cases, you might need a real estate agent to document the deed properly between two parties. To ensure that it is a legal transaction, the government intervenes, and for the same, there is a requirement for a lawyer. They will create legal documentation of the transfer of ownership and authority. To prepare a conveyance deed, you will need the help of a lawyer.

#DEFINITION OF CONVEYANCE IN REAL ESTATE REGISTRATION#

Each state has different charges for stamp duty and registration charges. The buyer should pay post-registration, stamp duty, and registration fees. Here is the format of the conveyance deed:-įormat of Conveyance Deed ( Source: Allahabad High Court) What is the procedure for obtaining a conveyance deed?Ī conveyance deed is drafted on a non-judicial stamp paper of requisite value and is registered at the nearest sub-registrar office. You must ask for a copy of the conveyance deed when buying a property.

The presence of this document will save you from fraudulent activities. Mortgage Property Conveyance Deed: A mortgage property conveyance deed is for the mortgaged property.Īs we discussed, a conveyance deed is a legal document used to buy and sell a property. At the time of registration, the conveyance deed has to be signed by at least two witnesses.Within four months of the execution of the deed, all the original property documents should be submitted at the local sub-registrar for registration.The conveyance deed must include the exact possession date on which the property will be handed to the buyer.Buyers can check these details at a local sub-registrar’s office. In the case of mortgage property, the mortgage must be cleared before the deed is signed.

#DEFINITION OF CONVEYANCE IN REAL ESTATE FREE#

The seller must clarify that the property is free from any legal encumbrance.

Things to check before executing a conveyance deed.

Other terms and conditions that are concerned with the property transfer.

Signatures of both parties that imply the buyer and seller.

A memo stating how property ownership has been received.

The details on how the property will be handed over to the buyer.Chain of title that includes all legal rights to the present seller.The conveyance deed should have the following: What should be there in a conveyance deed? A gift deed, mortgage deed, lease deed or sale deed can also be called a conveyance deed.Īlso Read: Builder Buyer Agreement Importance of Conveyance Deed Conveyance Deed MeaningĪ conveyance deed is a legal document used to transfer the property title from one person to another as a gift, an exchange, a lease, a mortgage, etc. Still there are many societies which are yet to get their conveyance deed. Out of 3991 orders, 1921 conveyance deeds were executed by the developers. Around 3991 issues are ordered to the housing societies regarding conveyance deeds. He assured that these issues will be resolved by organising monthly camps. To getĭeputy District Registrar informed that the societies were facing issues due to incomplete documents and property documents. In a housing society, it ensures ownership of land. A conveyance deed serves as a legal document to transfer the property rights. A report submitted by Pune Corporation Department to District Collector stated that around 67% of total 17,510 properties do not have conveyance deeds. However, the authority has decided to issue the same within a month from the date of application for old societies in the city.Īnil Kawde, the Housing Societies Registrar and the State Cooperation Commissioner said in his statement, “This will benefit many housing societies which are keen on self-development.”Īs per the reports, out of the total 1.15 lakh societies in Maharashtra, more than 60 per cent housing societies do not have Conveyance Deed.ġ1,784 Housing Societies Does Not Have Conveyance DeedĪpril 2023: In Pune, 11784 registered housing societies do not have conveyance deeds. The state government has also issued a resolution stating that it has simplified the process of Conveyance Deed Application.Įarlier, applicants had to wait for six months to get the conveyance deed for their society. June 06, 2023: Maharashtra State Government has decided to issue a deemed conveyance to societies that are old and do not have a valid conveyance deed in Pune. Maharashtra State Government to Issue Deemed Conveyance to Old Societies in Pune

Definition of conveyance in real estate