There are many instances, where builders or landowners fail to convey the title of land and building to the housing societies, owing to their personal interests. It is an important document that confers the legal ownership of the common areas of a housing society and is crucial for a housing society in proving its legal ownership over the property and for undertaking redevelopment projects. To transfer the title of the land and the building, a developer or landowner must execute a conveyance deed.
Conveyance deed of society vs deemed conveyance However, when the developer fails to provide the same within a specified time, a deemed conveyance is obtained by a housing society through a competent authority under the MOFA.Ī society can file an application for obtaining a ‘certificate of deemed conveyance’, by affixing a court fee of Rs 2,000, along with the necessary documents that need to be submitted. The builder or land-owner must convey the title within a period of four months of formation to a society or the legal body of the flat buyers.
According to Section 11 of the Maharashtra Ownership Flats Act (MOFA), 1963, the promoter must convey the title of the land and building, to the cooperative housing society.
#Conveyance deed meaning registration#
The requisite procedure must be followed for obtaining conveyance deed of a society in Maharashtra, involving registration of the documents in the government records. Obtaining a conveyance deed is necessary, to get the ownership right to a building and the plot on which it is constructed. Can a society get deemed conveyance without OC?.Activists draw government’s attention to the non-implementation of GR on deemed conveyance Adalat mooted in 2013.State co-operative department initiates awareness drive on deemed conveyance.Documents required for deemed conveyance.Conveyance deed of society vs deemed conveyance.Other types of Conveyance Deeds may include gift deed, exchange deed, mortgage deed, etc. Hence, it can be said that a Sale Deed is actually a form or a type of Conveyance Deed. However, if a Conveyance Deed in entered into for transferring the legal title of property from one person to another via a sale, then that Conveyance Deed would be termed as a Sale Deed.
on a temporary basis), mortgage or other circumstances. A Conveyance Deed can transfer the legal title of property from one person to another in case of a gift, an exchange, a lease (i.e. However, in a Conveyance Deed, there is no such restriction. the first party actually sells the title of the property to the second party in return of a specific amount of money. So, what is the difference between a Conveyance Deed and a Sale Deed? The main difference is that the Sale Deed transfers the legal title of property from one person to another in case of a sale, i.e. The Sale Deed is the document that states that the sale is successful and that the property now legally and rightfully belongs to the purchaser, and that the seller forfeits any right of title to the property in return for the remuneration as agreed upon in the Sale Agreement. It is signed after the sale has taken place. It establishes a valid and lawful title over the property in favor of the purchaser. However, that is also exactly what a Sale Deed does.
Essentially, a Conveyance Deed transfers the title of property from one person to another. It may also refer to the granting of an encumbrance such as a mortgage or a lien. In law, conveyance is the transfer of legal title of property from one person to another. Whereas, a Conveyance Deed can transfer the legal title of property from one person to another in case of a gift, an exchange, a lease (i.e. The main difference is that the Sale Deed transfers the legal title of property from one person to another in case of a sale. Key difference: In law, conveyance is the transfer of legal title of property from one person to another.
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