Conveyancing refers to the transferring of title in a property from one person to the other. You can convey your property through an instrument of deed. This instrument of deed, which is used for conveyancing or transferring property, is called a conveyance deed. A conveyance deed can be used to transfer any right, title, or interest in a property from one person to another. It includes transfers made during one’s lifetime. A conveyance deed is essential to complete transfer of purchased property.
A Conveyance deed is a document that includes legally valid contractual terms and can be enforced in a court of law. A Conveyance Deed is a broader term and includes a sale deed within its scope. All sale deeds are conveyance deeds, but conveyance deeds include various other transfer instruments such as gifts, lease, mortgage, etc. It is important here to highlight the difference between an agreement to sell and a conveyance deed. An agreement to sell is a mere promise to sell the property and not an actual sale itself. An agreement to sell does not create any interest or charge on the property. Hence, a conveyance deed is required to complete the transfer of a property.
Not having a conveyance deed would make it difficult for you to prove that you are the legal owner of the property. In the event of any potential dispute, you would not be able to prove ownership in the absence of a written agreement. Hence, conveyance deed is important, not only to transfer the property to also to establish good title to the property.
Conveyance Deed: Meaning
The term `conveyance’ includes the transfer of property, and the term `deed’ is a written legal instrument enforceable in a court of law. Hence, a conveyance deed means a deed which is used to effect various forms of transfers. A conveyance deed is valid only when the consideration for which the property is sold is valid. Typically, a valid conveyance deed can be used as proof to show that the property is free from all encumbrances and disputes.
A valid and acceptable conveyance deed contains certain essential elements, such as:
- The deed must confer exact boundaries of the property in order to avoid any future land disputes regarding ownership.
- It must state that all the rights vested relating to the property have been transferred along with the transfer of the property
- The conveyance deed must provide details in regard to the delivery and acceptance of the property.
- It must state all terms and conditions regarding the transfer of the property.
- It must be made on a non-judicial stamp paper and is to be signed by parties involved in the transfer.
- It must contain the full names, addresses, and other requisites of the seller and buyer.
- It must state that the property is free from any disputes or encumbrances, and if this is not the case, it must mention the details of the same, if any.
- It must be signed by at least two witnesses present and have witnessed the completion of the deal.
- It is a mandate that it should be in writing and is to be attested.
- It must be registered through the local registrar’s office by paying the requisite registration fee.
Deemed Conveyance: Meaning
If conveyance does not occur under a regular procedure or if the builder or developer refuses to sign the conveyance deed, then deemed conveyance may occur. Deemed Conveyance generally occurs in the transfer of an interest in residential and commercial properties. It occurs when the builder or promoter, or developer of the project refuses to sign the conveyance deed. In such cases, the court can sign the same on behalf of the seller and record it in the government records. In the circumstance where the promoter or the owner of the building does not convey the ownership of the property, an application can be made to the Registrar of Housing Societies to transfer the ownership of the respective premises. This process of transfer so performed is through deemed conveyance and, the promoter or the owner is not required in this transfer.
Documents required for Conveyance Deed
Certain documents are required for a conveyance deed to be validly signed. Conveyance deed documents are as follows:
- Registered agreement for sale
- Property card
- Siri survey plan/survey plan from the revenue department
- Application form 7 to the district deputy registrar affixing a court fee stamp of Rs.2000
- Details of telephone number and address of the owners
- The plot plan approved by the local authority
- Architect certificate
- Certificate obtained under Urban Land Ceiling Act, 1976
- Building plan approved by an authority
- Completion certificate and commencement certificate
- Occupancy certificate
- List of owners
- Proof of payment ( stamp duty)
- Proof of registration
- Agreement of sale, if executed
- Power of attorney
- The draft of conveyance deed
- Mutation entries from the revenue office, form 6
- Copy of the non-agricultural order
- Certificate of exclusion if any
- Proof of property tax paid
- Search report if any
- Certificate of property issued by an advocate, if any
Registered Conveyance deed
A conveyance deed is typically required after the purchaser and seller have agreed to the terms and conditions of the transfer of the property. After the conveyance deed is signed, the seller is required to pay the applicable stamp duty.
It is important to register the conveyance deed. A registered conveyance deed is compulsory for getting the mutation of the property done. A registered conveyance deed would act as evidence and assurance of title in the public domain. It will prevent people from committing fraud or illegally taking over the property.
You can register your conveyance deed in three simple steps:
- Execute the conveyance deed on a non-judicial stamp paper.
- Present the executed deed at the registrar’s office along with the required conveyance deed documents.
- Pay the registration fee.
- Typically, two witnesses are required to complete the process of registration.
All original documents need to be submitted to the sub-registrar’s office within four months of the execution of the conveyance deed. The buyer is also required to intimate other authorities regarding the change in ownership.
You need to draft a conveyance deed which contains all the relevant information before you can execute and register the same. You may choose to engage a local lawyer who can guide you through the legal aspects of drafting and registering a conveyance deed.
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