what is conveyance deed of society

what is conveyance deed of society

1 year ago 46
Nature

A conveyance deed of society is a legal document that transfers the ownership of land and building to a cooperative housing society from a developer or previous landowner. It is a legal instrument that legally transfers the rights to the property buyer. The conveyance deed confers the legal ownership of the common areas of the housing society and plays an important role in proving legal ownership and later redevelopment projects. It is necessary to obtain a conveyance deed to get the ownership right to a building and the plot on which it is constructed. The deed should have the following details: the names of the parties involved, the description of the property, the consideration paid, and the date of transfer. If a legal dispute arises, the conveyance deed works as evidence. In practice, members of housing societies often have trouble getting developers to execute conveyance deeds for their buildings. In such cases, some states allow the members of the housing society to request the State Government to provide them a Deemed Conveyance Deed.

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