![]() In the case of mortgage property, the mortgage must be cleared before the deed is signed.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. The buyer becomes the ultimate user of the property and has the right to sell it or use it in case of a sale deed, but it is not so in the case of a conveyance deed.Maharashtra State Government to Issue Deemed Conveyance to Old Societies in Pune.A sale deed is a permanent transfer of rights, title, or ownership to the seller whereas the transfer of ownership in case of a conveyance deed is limited.On the other hand, a conveyance deed is the transfer of property rights, titles, and ownership from one person to another, not necessarily always for consideration. A sale deed is needed when a seller sells the property to the buyer in exchange for consideration.But a conveyance deed may include gifts, mortgage, exchanges, etc., so it may or may not involve monetary consideration. ![]()
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