Gift deed: If the property is gifted by the grantor to the grantee, it is known as a gift deed.This usually occurs when the transfer of property happens with common property. Relinquishment deed: This form of deed is created at the time of transferring or releasing the rights, titles, or interests of one person in favour of other legal heirs.On the subject to the mortgage: If the property is subject to the mortgage, the buyer can enter the property from time to time and enjoy the building and its premises.The landlord will be the owner of the common areas and structures built. On leasehold property: The leasehold ownership is given to the owner who has the right only to the built house, meaning the walls constructed on the property and not the land ownership.The conveyance deed will be the final document given to the buyer. The property will be converted into a freehold and the owner gets the complete right over the property. On freehold property: This is a deed where the buyer gets the full authority to enjoy the property.The document that proves the payment of stamp duty.OC or occupancy certificate (if applicable).The building or structure plan must be approved by the appropriate authority.Along with the survey plan, include a layout plot plan which is approved by the local authority.A survey plan for the property from the revenue department.Mutation entries: These are the entries that are present in revenue records that indicate the transfer of ownership of a property.This document must be provided while making the deed Sale agreement: The seller agrees with the buyer promising to sell the property along with the price terms.Read: All you need to know about Home Demolition in India Documents Required for the Conveyance Deedīelow is the list of documents that are required to create this deed: The stamp duties and the registration charges vary from one state to another state. The charges and the expenses incurred while creating this deed depend on the duties implied by the government. Terms and conditions while buying the property for transferring full rightsĬonveyance Deed – Procedure What are the Charges for the Conveyance Deed?.A memo to declare the consideration received, whether monetary or non-monetary.State of delivery of the property to the buyer.All the title owner’s names till the present-day seller.Any other rights appended to the property and its use.The actual markings of the land or property.Sale deed Vs Conveyance deed What Does It Include? The buyer has the right use and may not have the right to sell it Sale includes selling of property and nothing else, which is right to sellĪ buyer becomes the ultimate user of the property and has the right to sell it or use it The transfer of rights, title or ownership to the seller can be for a limited period Permanent transfer of rights, title, or ownership to the seller May or may not involve monetary consideration Involves some kind of consideration, either monetary or non-monetary These transactions are called “tax deed sales” and are usually held at auctions.Is needed when a seller sells the property to the buyer in exchange for considerationĬonveyance deed is the transfer of property rights, titles, and ownership from one person to another, not necessarily always for consideration Once sold, the property is then transferred to the purchaser. A tax deed gives the government agency the authority to sell the property to collect delinquent taxes. Tax Deeds: This is a legal document granting ownership of a property to a government body when the owner fails to pay any associated property taxes.It provides the grantee with the least protection of any deed and is often used to fix title errors and transfer property between family members. Quitclaim Deeds: Also called a non-warranty deed, a quitclaim deed does not warrant clear title, or guarantee that the grantor has a legal right to transfer the property.This type of deed is used in most real estate deed transfers. The grantor of a general warranty deed fully warrants good clear title to the property. General Warranty Deeds: A general warranty deed provides the most protection to the buyer but gives the grantor the highest degree of liability.
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