The government obtains money or revenue from the registration of this conveyance deed of the stamp duty that is required for the deed. Their help is often required as they know the legalities and are in terms of their requirements. They enable the two parties to systematically draw the deed. To facilitate this process, there is a requirement of the lawyer, and in certain cases the real estate agent. There is the intervention of the government to ensure that this is a legal transaction. It is likely to save you from other kinds of fraudulent claims and activities.Īs mentioned in the article, the conveyance deed is legal documentation of the transfer of authority and ownership of a buyer. The implication of the conveyance of property document is paramount due to the legal technicalities. The purpose of a conveyance deed or a sales deed is to legally document that the seller of a property has transferred all the authority and the ownership regarding a property to the buyer. See also: All about EC Telangana What is the purpose of a conveyance deed? The landlord is the owner of the structure, the common areas of the building and the land it is built upon.ĭeed of conveyance subject to mortgage: In this case, subject to the said mortgage the purchaser can, from time to time, enter into and possess or enjoy the land in question and its premises. The conveyance deed is given to the owner as a final document.ĭeed of conveyance of leasehold property: The leasehold ownership of a property means the owner has the right to everything within the four walls of the property but it does not include the external or structural walls. There are three types of conveyance deeds:ĭeed of conveyance of freehold property: A property can be converted into freehold status by the concerned authority, such as the Delhi Development Authority (DDA) or any state authority. See also: All about GST on flat Types of conveyance deeds
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