All You Know About Conveyance Deed for Your Property!
Vaidehi Desai is co-founder of www.traderguide.in, a Technical Analysis Software for Stock Market, a venture of Sthapati Infotech Pvt. Ltd. She is a Senior Manager at SDCPL – Gharpedia. She has earned MBA from Auro University, Surat in 2013 & Post Graduate Diploma in Human Resource Management from Symbiosis Distance Learning, Pune. She brings with her years’ experience in Personal banking with HDFC Bank. Her passion for music made her take a Degree in the subject. She looks after the Buy-Sell- Rent & Finance & Legal sections of Gharpedia. You can reach her at LinkedIn, Facebook, Twitter & Instagram.
Why a Conveyance / Sale deed is required?
Conveyance / Sale deed is a document though which a buyer gets right of ownership, use and enjoyment from the seller for the property, which is conveyed. The sale deed contains price, description of the property, conditions between the parties and understanding between them including history of ownership of property.
Registering conveyance deed:
Unless the document is signed by the both parties in presence of witnesses and is registered in the office of the sub-registrar, it has no legal sanctity and no legal force.
Why conveyance deed?
First of all the oral transactions particularly for transfer of immovable properly are not allowed under laws. The law therefore requires that the sale deed / conveyance deed has to be in writing, so that any disputes, misunderstanding in future can be avoided. Further if they are in oral only it is possible that over a period of time there would be misunderstandings, lack of clarity and hence disputes.
Where to register?
- The documents related to land, house or immovable properties are required to be registered :
- At the office the Sub-Registrar where the land, house or property is situated.
- In the office of “Registrar” irrespective the location of the property.
- Normally one has to go personally to the office of sub-registrar. However, in special circumstances like physical inability or illness or other special reasons the sub-registrar can also accept the sale deed at your home for which you will have to pay extra.
- The conveyance deed can be either in English, Hindi or in any regional language of the state and if it is in any other language one copy has to be given in the regional language.
Documents needed while registering:
- Basic conveyance deed on adequate stamp paper (As per stamp Act) duly signed or with thumb impression with signature of the witnesses.
- Photographs of the both the parties.
- 2 photographs of the property.
- Zerox / True copy of the old conveyance deed.
- House tax bill from the local authority.
- Allotment order of Title deed or possession certificate or sales document, if property is given by government department or agencies.
- PAN card issued by Income tax department or Form 60 and 61 if the property values more than Rs. 5.00 lac.
- Declaration in Form 1 under the Stamps Rules of the state.
Does the buyer get right for the property without registration of sale deed even if he has made full payment?
The law does not consider unregistered owners and does not give them any rights over the property. Any transfer of immovable property has to be in writing and needs to be registered as per Transfer of Property Act Transfer without Registration would therefore be null and void and cannot be enforced in any court of law.
“Agreement to sell”
With recent amendment even an “Agreement to sell” (popularly known as “Bana khat or Sata khat”) also needs to be registered.
What Would Happen if I Do Not Use Adequate Stamps While Registering My Sale Deed?
Any document registered without payment of adequate stamp duty are sometimes refused for registration by registrar or they may not be subsequently processed for transfer in buyer’s name.