A deed of conveyance is a legal document that transfers the ownership, title, rights, and interests of a property from one person to another. If you want to know, what is deed of conveyance, I’ve shared a few key elements about the same.
What are Conveyancing Deeds?
Defined Boundaries: Clearly describes the property’s boundaries to avoid disputes.
Conveyance: Specifies the transfer of property from the seller (grantor) to the buyer (grantee).
Signatures: Must be signed by all parties involved and notarized.
Registration: Needs to be registered with the appropriate local authority to be legally binding.
Different types of conveyance deeds include sale deeds, gift deeds, exchange deeds, mortgage deeds, and lease deeds. This is all about what is conveyance deed in property.
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There are various documents involved in the process of buying and selling properties but what is deed of conveyance? If you are unsure, I will help you know everything, from what is it, what is the importance of a conveyance deed, what does it include and much more.
A conveyance deed is a legal written document that records transfer of legal ownership on a property, movable or immovable, to the other party. This legal document asserts transfer of ownership in the form of selling, gifting, mortgaging, leasing or exchanging in the favour of the buyer.
In a conveyance deed you can find the following information:
- Property details
- Power of attorney (if applicable)
- Rights and conditions of property usage
- Date of possession
- Signature of both the parties and two witnesses
You can draft the deed of conveyance on a non-judicial stamp paper and submit it to the sub-registrar’s office in your area along with the following documents.
- Registered sale agreement
- Mutation entries/ Property card
- Property location plan
- City survey plan
- Property layout documents
- Approved building or structure plan
- Commencement Certificate
- Completion Certificate
- Occupancy Certificate
- Proof of payment of Stamp Duty
- Registration proof
Often, the terms sale deed and conveyance deed are used interchangeably. However, there is a significant difference between them. A sale deed can be considered under the broader umbrella of conveyance deed as it is a legal document for transfer of ownership of the property whereas, a conveyance deed also includes mortgage deed, gift deed, relinquish deed, etc.
I hope this answer cleared doubts around what is deed of conveyance.
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Authors Of The Question
What is Deed of Conveyance?
Hitesh
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2021-03-15T14:30:36+00:00 2024-10-01T09:43:06+00:00Comment
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