Things To Know About Conveyance Deed And Why It Is Important

In the wake of the rising number of instances of fraud and bogus selling of properties, it's the conveyance deed or the sale deed that gives legal protection to the ownership of your property. By understanding the basics of a conveyance deed, you can guard yourself against getting duped. 

• There is a little difference between the sale deed and the conveyance deed. All sale deeds are conveyance deeds but not vice-versa. Gift, mortgage, exchange and lease deeds are also types of conveyance deed. 

• Governed under the Registration Act, a conveyance deed is an important document for a buyer as well as the seller because a purchase is not legally complete until it is signed by both the parties. 

• A conveyance deed is made on a non-judicial stamp paper keeping the agreement to sell as the blueprint. 

• The document has all the details needed to carry out for the transfer of the property title. This includes the full names of the buyer and the seller, their addresses, etc. The actual demarcation of the property in question, chain of the title of the owners, and the method of the delivery of the property are also stated. 

• In the deed, the seller is also required to certify that the property is free from any legal encumbrance. 

• If some loan is taken against the property, the mortgage should be cleared before proceeding, if it's a sale deed. It's always better to personally check with the local sub-registrar's office. 

• In case of sale deed, it would also mention the money received towards the sale transaction. 

• The document would also state the exact date on which the property would be physically handed over to the new owner. 

• Within a period of four months of the execution of the deed, all the original documents related to the sale of the property should be produced before the registrar for registration. 

• The conveyance deed is also required to be signed by at least two witnesses with all their details included. 

• After the conveyance deed is signed, it has to be registered at the local sub-registrar's office by paying the registration fee.

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