What is a Conveyance Deed?
A conveyance deed is a legal document that transfers property ownership from one party to another. It serves as proof of ownership and ensures that the buyer legally acquires all rights to the property. In Maharashtra, conveyance deeds are essential for housing societies to obtain full land ownership from developers.
Difference Between Conveyance Deed and Sale Deed
Many people confuse a conveyance deed with a sale deed, but they are different:
| Aspect | Conveyance Deed | Sale Deed |
|---|---|---|
| Purpose | Transfers property ownership (includes sale, gift, mortgage, etc.) | Specifically used for the sale of a property |
| Scope | Covers multiple types of property transfers | Only applicable to selling property |
| Legal Importance | Societies need to claim land rights | Used when individuals buy property |
What is the Cost of a Conveyance Deed in Maharashtra?
The cost of a conveyance deed in Maharashtra includes :
- Stamp Duty – 5% of the property value (varies in rural and urban areas)
- Registration Fees – ₹30,000 or 1% of the property value (whichever is lower)
- Legal & Documentation Charges – Can vary depending on legal consultation
Difference Between Conveyance Deed and Lease Deed
A conveyance deed transfers permanent ownership, whereas a lease deed grants temporary rights to a tenant for a fixed period. In a lease deed, the ownership remains with the original owner.
Who Pays for the Conveyance Deed ?
The cost of a conveyance deed is usually borne by:
- The buyer in individual property transactions
- The housing society members when obtaining conveyance from a builder
Can a Conveyance Deed Be Challenged in Court?
Yes, a conveyance deed can be challenged in court under certain conditions:
- If fraud or misrepresentation occurred
- If there is a legal dispute over ownership
- If the deed was executed under coercion
Can a Conveyance Deed Be Cancelled ?
A conveyance deed can be cancelled by filing a suit in court if it was obtained through fraud, undue influence, or if legal procedures were not followed.
How to Find a Conveyance Deed ?
You can obtain a copy of your conveyance deed from:
- Sub-Registrar Office where the property was registered
What is the Alternative to a Conveyance Deed ?
If a conveyance deed is not available, housing societies can apply for a Deemed Conveyance under the Maharashtra Ownership Flats Act (MOFA). This legal process allows societies to claim ownership of land when developers fail to execute a conveyance deed.
Conclusion
A conveyance deed is a crucial document for property ownership, especially for housing societies in Maharashtra. If you need legal assistance in obtaining a conveyance deed, Deed Agent Legal Consultancy can help you with the entire process.
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