A conveyance deed is a legal document between a transferor and a transferee, which proves that a title or ownership in the property has been transferred from one person to another. It also informs that the property is free from any restrictions and disputes. Both the parties sign it, and it can be produced in a court if any dispute relating to the agreement arises in future.
Contents of Conveyance Deed
Importance of a Conveyance Deed
How to get conveyance deed?
The procedure is done on a non-judicial stamp paper. After that, it needs to be registered at the Registrar’s office. Post-registration, the transfer of property moves to the public domain. The government obtains the stamp duty and registration fees as revenue. Once this is done, the entire procedure of the conveyance deed is completed.
In a situation, where the builder is not alive, the process can be completed by the legal representatives or heirs of the builder. In such cases, you will be required to draft a conveyance deed and apply it.
Difference between Conveyance Deed and Sale Deed
The terms ‘Sale Deed’ and ‘Conveyance Deed’ are used interchangeably but they are not the same. Like a Conveyance Deed, a Sale Deed transfers the ownership or title of a property from one entity to another. On the other hand, a Sale Deed is appropriate when the title or ownership of a property is transferred in return for money. A Conveyance Deed, on the other hand, is appropriate when the transference of a property is due to gift, exchange, mortgage, or lease.
Documents required for Conveyance Deed
The required documents to obtain a Conveyance Deed are as follows:
Is it possible to cancel a Conveyance Deed?
As per Sections 31 to 33 of the Specific Relief Act, 1963, it is possible to cancel a conveyance deed, if an individual believes that the deed is voidable or can cause him/her harm if left unresolved. If the deed was registered as per the laws of the Indian Registration Act, 1908, the conveyance deed can be cancelled by mutual agreement of the parties involved.