Certificate of Commencement and Occupancy Certificate, if applicableĬonveyance deed format Importance of Conveyance Deed in Home LoanĪ conveyance deed is an essential legal document for homebuyers who have availed of a home loan.Building or structure plan approval from the appropriate authority.Architecture and Urban Ceiling Act certifications.Layout plot plan approved by the local authority, accompanying the survey plan.Location plan and survey plan for the property from the revenue department.Mutation entries or property cards indicating ownership transfer in revenue records.The sale agreement outlining the property details and price terms.Here are ten critical legal documents that you need for a conveyance deed. To complete the process, certain legal documents are required. Legal Documents Required for Conveyance DeedĪ “Conveyance deed” is a legal document that transfers property ownership from one person to another. The gift deed transfers the ownership rights of the property to the recipient without any monetary consideration. Gift DeedĪ gift deed is used when the property is being gifted by the owner to another person, usually a family member or a loved one. The deed transfers the ownership rights from the seller to the buyer, but the buyer assumes the responsibility for the mortgage payments. The transferred property is subject to a mortgage in this conveyance deed. This deed transfers the rights to use the property from the seller to the buyer for the remaining lease period. A deed of conveyance of leasehold property is used. When the property being transferred is leasehold, the owner has the right to use the property for a specific period but does not own the land it is built on. The deed of conveyance of freehold property transfers the complete ownership rights from the seller to the buyer. This type of conveyance deed is used when the transferred property is freehold, meaning the owner has complete ownership of the property and the land it is built on. Here are four conveyance deeds you should know about. Understanding the different types of conveyance deeds can help you choose the right one for your needs. Obtain signatures from at least two witnesses during the registration process.Ĭonveyance deeds are an essential part of property transactions.Submit all original property documents to the local sub-registrar for registration within four months of the deed’s execution.Include the exact possession date of the property.Confirm that any mortgage on the property has been cleared.Ensure the property is free from any legal encumbrances.Other terms and conditions related to the property transferīefore executing a conveyance deed, it is essential to remember the following.Signatures of both the buyer and seller.
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