When it comes to property ownership in India, two terms that often come up are "conveyance" and "deemed conveyance." While they may sound similar, they actually have significant difference between conveyance and deemed conveyance.
What is the difference between deemed conveyance and conveyance deed?
- Conveyance Deed:
A general term for any written document that conveys ownership of real estate or real estate interests from one party to another.
According to the aforementioned definition, it follows that if someone voluntarily transfers their legal claim to the property to another party, they must do it through the creation of a document. Such a document is called a Deed of conveyance.
- Deemed Conveyance:
A conveyance document is required for obtaining the ownership rights of a building and the land it is built on.
In Maharashtra, the promoter must transfer the title to the cooperative housing organisation under Section 11 of the Maharashtra Ownership Flats Act (MOFA), 1963.
Within four months of the society's establishment, the builder or landowner must transfer the title. However, if the developer doesn't supply it within this time, a housing society can obtain a deemed conveyance under the MOFA from a competent body.
After understanding the difference between conveyance deed and deemed conveyance, I’d like to highlight that the Maharashtra government has made it possible for citizens to check their deemed status online. All you have to do to find out the status of your application is log in to the
Mahasahakar websiteAccording to the norms and regulations, the authority must deliver the conveyance's true copy within six months.
I hope this satisfies the query about what is the difference between conveyance and deemed conveyance. I hope this helps:)
Read More:
Why conveyance deed is required? What is the Difference Between a Conveyance Deed and a Registry? What is the difference between a conveyance deed and a sale deed?Your Feedback Matters! How was this Answer?
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Difference Between Conveyance and Deemed Conveyance?
pratik
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2023-04-24T08:34:52+00:00 2023-04-24T08:39:52+00:00Comment
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