Conveyance Deed or Deemed Conveyance of Cooperative Housing Society
Does your Housing society building stand on the society’s ownership ?
Conveyance of a Property is transferring the Rights, Title, Interest, and Ownership of a Property from the vendor to the customer. Just in case of a Cooperative Housing Society (formed by the Flat Purchasers/ Owners under the provisions of Maharashtra Cooperative Societies Act, 1960), Conveyance is transferring the Rights, Title, Interest and Ownership of the Land and Building from the Land Owner/ Property Developer to the Cooperative Housing Society.
Conveyance Deed
In the case of normal conveyance deed, the builder/ Developer/ Landowner prepares a conveyance deed, executes an equivalent and appears before the Sub-Registrar of assurance for admitting their signature. with no problem, the legal bodies get the conveyance with the cooperation of the builder/ landowner.
Deemed Conveyance
In case of deemed conveyance, the builder/ landowner or their legal heirs aren't cooperating, therefore, the aggrieved parties appear before the Designated Competent Authority, who hears all the parties and passes the required order of conveyance. Deemed Conveyance is obtained as a legal remedy against the defaulter builder/ landowner who doesn't want to spare the land and therefore the building in favor of the society.
SOCIETY DOT COM helps you in both the situations of Housing Society Conveyance. Our expert team provides proper legal advice and assistance to you for getting your conveyance executed. We help you in the entire process from start to end. We take care of all documentation as well as coordination with the government department till the finalization of Conveyance Deed or Deemed Conveyance.
Advantages of Conveyance Deed of Housing Society
- Getting the right title
- Retaining Additional F.S.I which has been granted by the change of regulations.
- The property are going to be free and marketable from any encumbrances/charges
- A loan is often raised by Mortgage for repairing the buildings.
- Permission for reconstruction is going to be given by the design authorities.
- Construct new buildings by using TDR or give the redevelopment rights to the builder and obtain the extra area & the corpus with amenities.
- Receive Compensation on Development like telecommunication tower rent, Hoarding rents, etc.
Documents required for Conveyance Deed or Deemed Conveyance as under
- 7/12 Extract
- Search Title Report
- N.A. Order & U.L.C Order
- Single copy of an Agreement (First Buyer)
- All Index- II of all flats/shops
- Architect Certificate of Area
- Society Registration Certificate
- Resolution & Notice to Builder
- Development Agreement
- Power of Attorney
- Layout Plan (Blueprint)
- Commencement Certificate, if so
- Completion Certificate, if so