What is the purpose of conveyance deed?

What is the purpose of conveyance deed?

A ‘conveyance deed’ or ‘sale deed’ implies that the seller signs a document stating that all authority and ownership of the property in question has been transferred to the buyer. The chain of title i.e. all legal rights to the present seller. The method of delivery of the given property to the buyer.

What is the difference between title deed and conveyance deed?

Both are one and same thing, transfer of legal title of property from one person to another. Only difference is in sale deed, property sells whereas conveyance can be done through gift/lease etc. You have perfect title and for not providing OC, complain to RERA and also consumer court for compensation and OC.

What does it mean to conveyance a property?

A conveyance is the transfer and assignment of any property right or interest from one individual or entity (the conveyor) to another (the conveyee). This is usually accomplished through a written instrument – most often a deed – that transfers title to, or creates a lien on property.

Is conveyance deed necessary for society?

Having a Conveyance Deed confers the legal ownership of the common areas of the housing society and plays an important role in proving legal ownership and later redevelopment projects.

What are the advantages of conveyance?

ADVANTAGES OF CONVEYANCE:

• Getting a proper and legal title in the name of the Society.
• Retaining the additional FSI as per the Government announcements.
• Property will be free and marketable.
• Society can raise the loans for repairs and reconstruction by mortgage.

Can conveyance deed be challenged?

Yes they can be challenged and cancelled if they were formed with some fraud or misrepresentation by other party. You have to file suit in civil court for set aside the sale deed.