Wondering, the difference between sale deed vs conveyance deed? Let’s delve into the differences between them.
What is the Difference Between Deed of Sale and Deed of Conveyance?
Factors |
Conveyance Deed |
Sale Deed |
Purpose |
To transfer the title of property from the seller (transferor) to the buyer (transferee) |
Signifies the sale and transfer of ownership rights of a property from the seller to the buyer |
Applicability |
Property transactions, including the sale of land, houses, apartments, and commercial properties |
Property transactions across various types of properties and jurisdictions |
Legal Requirements |
To be valid, a Conveyance Deed must comply with execution formalities, stamp duty, and registration |
A Sale Deed must meet execution formalities, stamp duty, and registration requirements |
Rights and Obligations |
Both parties (seller and buyer) have specific rights and obligations outlined in the Conveyance Deed, including warranties and indemnities. |
The Sale Deed outlines the rights, obligations, warranties, and indemnities of both parties |
Contents |
It typically includes property description, consideration amount, terms, conditions, warranties, and signatures of parties and witnesses |
It includes property details, consideration amount, terms, conditions, and signatures |
In summary, while both documents facilitate property transfers, a Conveyance Deed covers a broader range of property transfers (including gifts, exchanges, leases, etc.), whereas a Sale Deed specifically focuses on property sales.
Get Your Sale Deed Drafted & Verified Via Expert Advocates at NoBrokerRead More:
What is the Difference Between Sale Deed and Settlement Deed?
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When you purchase or sell a home, it has become crucial to have a written contract that details the transaction between the seller and the buyer. Conveyance deeds and sale deeds are two phrases that are commonly used in real estate deals. So let’s see the difference between sale deed and conveyance deed.
Understand both deeds in detail by consulting experts at NoBroker. Draft your sale agreement via NoBroker for a hassle-free process.What is the difference between deed of conveyance and deed of sale?
I have listed down some points to help you understand what is difference between conveyance deed and sale deed. So keep reading to know conveyance deed vs sale deed.
Sale Deed |
Conveyance Deed |
It's crucial to remember that since they include sales, all sales deeds are conveyance deeds. |
Gift, exchange, mortgage, and lease deeds are only a few examples of conveyance deeds. As a result, not all conveyance deeds are sale deeds. |
In the case of a simple sale, the sale document transfers ownership of the property from one party to another legally. |
A conveyance deed may be utilised in the event of a gift, exchange, lease, mortgage, or other situation. |
A sale deed creates a legitimate and legal title to the property in the buyer's favour. It is signed upon the conclusion of the transaction. |
A conveyance deed is a formal document used to transfer ownership of the real estate. |
The stamp duty payment, price, and the conditions under which the parties involved signed a contract to sell a property are also included in the deed. |
This contains the full names, addresses, and any other relevant details of the buyer and the seller. |
A sale deed contains a detailed list of the parties. |
All of the details necessary to execute the transfer of property ownership are included in the conveyance deed. |
A sale deed is termed finished when the property is instantly transferred. |
This includes information on the precise definition of the subject property, the owner's chain of title, and the delivery procedure. |
The difference between sale deed and conveyance deed must be clear to you now.
Read More: What is the difference between registration of agreement of sale and sale deed? What is a deed of conveyance?
What is difference between conveyance deed and sale deed?
Saket
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2023-03-28T08:47:35+00:00 2023-03-29T17:58:30+00:00Comment
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