India 
Canada
When buying property—whether it’s a flat, land, or a commercial space—one of the most critical legal documents involved is the Conveyance Deed. While the term may sound technical, understanding its purpose and importance can save property buyers from future legal complications. What is a Conveyance Deed?
A Conveyance Deed is a legal document that transfers ownership of property from one person or entity to another. It serves as proof of the buyer’s legal ownership of the property and is essential for establishing rightful title in the eyes of law.
Once the deed is signed by both parties and registered with the local sub-registrar of assurances, the buyer becomes the lawful owner of the property.
Types of Conveyance Deeds
A conveyance deed can take different forms, such as:
- Sale Deed: Transfer of ownership through sale.
- Gift Deed: Transfer without any monetary consideration.
- Exchange Deed: Property swapped between two parties.
- Partition Deed: Division of jointly held property.
Key Components of a Conveyance Deed
A typical conveyance deed includes:
- Full details of the buyer and seller
- Accurate description of the property
- Sale consideration (price)
- Chain of ownership
- Date of transfer
- Rights and liabilities of both parties
- Confirmation that the property is free from legal encumbrances
Importance of a Conveyance Deed in RERA
- Under the Real Estate (Regulation and Development) Act (RERA), a conveyance deed plays a critical role in safeguarding the rights of homebuyers. As per RERA norms:
- The developer must transfer the title of land and common areas to the Resident Welfare Association (RWA) or Housing Society within three months of receiving the Occupancy Certificate.
- Failure to execute this transfer is a punishable offense under RERA and may attract heavy penalties.
This ensures that residents gain full control over shared amenities and are protected from future disputes.
