Conveyance Deed

Conveyance Deed

A Conveyance Deed, also known as a Transfer Deed or Deed of Conveyance, is a legal document used to transfer the ownership of real property (land and buildings) from one party to another. It is commonly used in situations where property is being sold or transferred from a seller (grantor) to a buyer (grantee). The deed serves as evidence of the transfer of ownership rights from the seller to the buyer.

Here are the key components typically included in a Conveyance Deed:

  1. Parties Involved: The Conveyance Deed identifies the parties involved in the transfer of property—the grantor (seller) and the grantee (buyer). It includes their names, addresses, and other identifying details.
  2. Description of the Property: Detailed description of the property being conveyed, including its address, boundaries, dimensions, and any relevant identification numbers (such as survey numbers or property tax numbers).
  3. Consideration: The deed states the agreed-upon sale consideration, which is the monetary value or price at which the property is being sold. This can be in the form of cash, cheque, demand draft, or any other acceptable form of payment.
  4. Transfer of Ownership: The Conveyance Deed contains provisions stating that the grantor intends to transfer ownership of the property to the grantee. It includes details about the grantor's title to the property and warranties regarding its legality and possession.
  5. Rights and Liabilities: The deed outlines the rights, title, and interest being transferred from the grantor to the grantee. It also specifies any encumbrances, mortgages, or liabilities attached to the property.
  6. Warranties and Covenants: The grantor may provide warranties and covenants regarding the property's title, possession, and legality. These warranties assure the grantee that the grantor has the legal right to sell the property and that there are no undisclosed defects or disputes.
  7. Signatures and Witnesses: The Conveyance Deed must be signed by both the grantor and the grantee, as well as by witnesses who attest to the execution of the deed.
  8. Stamp Duty and Registration: Conveyance Deeds are subject to stamp duty, which is a tax levied by the state government based on the property's value. The deed must be stamped with the appropriate stamp duty before it can be registered. After stamping, the Conveyance Deed must be registered with the local Sub-Registrar Office or Registrar of Assurances. Registration provides legal validity to the deed and ensures its enforceability against third parties.

Once the Conveyance Deed is executed, stamped, and registered, it serves as conclusive proof of the transfer of ownership of the property from the grantor to the grantee. It's essential for both parties to carefully review and understand the terms and conditions of the Conveyance Deed before signing to avoid any future disputes or legal issues. Additionally, seeking legal advice from a qualified lawyer can help ensure that the Conveyance Deed is drafted and executed correctly according to relevant laws and regulations.

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