Conveyance Deed :- In basic terms, a deed of conveyance is a legal document that serves as proof of the transference of a deed (or title) from one owner to another.
A conveyance deed is essentially one wherein the seller transfers all rights to legally own, keep and enjoy a particular asset, immovable or movable. In this case the assets under consideration are immovable, namely property.
On signing a conveyance deed, the original owner transfers all legal rights over the property in question to the buyer, against a valid consideration (usually monetary).
This consideration, however, is irrelevant in the case of gift deeds, as they are based on fraternal or familial bonds.
A ‘conveyance deed’ or ‘sale deed’ implies that the seller signs a document stating that all authority and ownership of the property in question has been transferred to the buyer.
Types of conveyance deeds : There are three types of conveyance deeds:
Deed of conveyance of freehold property: A property can be converted into freehold status by the concerned authority, such as the Delhi Development Authority (DDA) or any state authority.
The conveyance deed is given to the owner as a final document.
Deed of conveyance of leasehold property: The leasehold ownership of a property means the owner has the right to everything within the four walls of the property but it does not include the external or structural walls.
The landlord is the owner of the structure, the common areas of the building and the land it is built upon.
Deed of conveyance subject to mortgage: In this case, subject to the said mortgage the purchaser can, from time to time, enter into and possess or enjoy the land in question and its premises.
Stamping & Registration of Conveyance Deed in Delhi
- Registration fee of Rs. 101 is required to be paid at Sub-Registrar’s office at the time of registration of property.
- A duty @ 8% in case of men and 6% in case of women must be payable through the Collector of Stamp/ Sub Divisional Magistrate (SDM), in case of conversion of leasehold property into freehold property.
Our law firm provide information and help for the Drafting and Registration of all types of Legal and Property Documents across all the Sub-Registrar Offices in Delhi including the following :-
- Sale Deed
- Lease Deed / Rent Agreement
- Agreement to Sell
- Gift Deed
- General Power of Attorney (GPA)
- Release/ Relinquishment Deed
- Other Property Documents
We provide these services all over Delhi. you may contact us for any information by visiting at ww.legallightconsulting.com