Conveyance Deed
What is a Conveyance Deed & why is it
Important?
A conveyance deed is a legal document that is used to transfer the title of property from one person to another as a gift, an exchange, a lease, a mortgage, etc. A gift deed, mortgage deed, lease deed, or sale deed can also be called a conveyance deed.
A conveyance deed is a process to acquire ownership of the land with the consent of the Developer.
of the Maharashtra Ownership Flats Act, 1963 the Promoters/Developers are required to form a society within 4 months from the date on which a minimum number of persons required to form such organization have taken premises/flats.
What is the difference between sale deed and
conveyance deed?
Conveyance deed is a broader term that includes any property ownership transfer in the form of a gift, mortgage, lease, exchange, etc. in favor of the buyer. A legal document to transfer ownership through property sale is called a sale deed. All sale deeds are conveyance deeds, but not all conveyance deeds are sale deeds. All deeds that are used to transfer property rights are conveyance deeds, and the sale deed is one among them.
Advantages of Conveyance Deed
- Right/Title/Interest of Property.
- Property -Free and Marketable
- FSI/TDR Benefits
- Property Appreciation
- Property Rent
- Reconstruction Permission
- Society will get Proper and Legal Title of the Property (Land & Structures) in the name of the Society
- Society can raise the Loans for Repairs and Reconstruction by mortgage of the Society’s Property
- Society can get permission for reconstruction from the Planning Authorities
- Society can Redevelop the Property by constructing new building using TDR & Members can get the additional area (Fungible F. S. I.), new amenities & Corpus Fund
- Society can receive additional Revenue of Rent from Advertising Hoarding & Tele- Communication Tower etc.
