Sale deed , Title deed & conveyance deed

Q: I want to know what is this sale deed & title deed ? What is a conveyance deed? Why is it required?

Aniket, Bhiwadi

22nd September 2014

Legal in Gurgaon

title deed

investment advice

sale deed

conveyance deed

legal documents

buying property advice

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Replies (4)

What should we check in sale deed, can anyone tell me what contain should me mention in sale deed document?

bablu pathak,

3rd November 2015

Comment

Following list of contents is mention in sale deed:
1. Complete description of the property being sold number, total area, construction details as well as its location with its surroundings
2. Schedule of the property defining the exact location where the property is situated
3. Clause regarding transfer of title to the property from the seller to the buyer
4. Indemnity clause that makes the seller liable in case a defect in his title is found at a later stage.

ajit pandey,

3rd November 2015

The sale deed conveys title and should be drafted with due consideration to all aspects of the transaction. A conveyance deed is drafted in case of transfer of property from one person to another.In case of a sale of property, there is a transfer of ownership in exchange for the price paid. There is an absolute transfer of the property by the seller to the buyer by entering into a contract for sale.

V. Victor,

3rd November 2015

Comment

Hi, Guys,
I want to know what are the documents necessary to check/verify for selling residential or commercial project ?

Ankur , Ghaziabad

1st October 2014

Comment

Hi Ankur,
List out all deeds of title related to the property under sale. You may be required to give photocopies of the deeds to the potential purchaser. Ascertain the survey number, village and registration district of the property as these details are required for registration of the sale.

Kanchan, Ghaziabad

1st October 2014

@ankur,
Prevailing market rates in the vicinity, current market trends and last known transactions. Formulate commercial terms i.e. price, payment schedule, transfer fees, statutory charges eg. stamp duty. Distinguish between negotiable and fixed terms and conditions of the contract eg. Price, payment schedule, time of completion etc.

Anas, Ghaziabad

1st October 2014

@ANKUR,

Finalize commercial terms of sale. Obtain, if applicable, consent, permission, sanction no objection certificate of various authorities such as the:- (a)Society (b)the income tax authority (c)Municipal Corporation (d)the competent authority under the Urban Land Ceiling and Regulation Act (e)any other authority.

Anis, Ghaziabad

1st October 2014

Hi Ankur,
Check if the purchaser will be taking a loan for payment of the consideration amount. Ask for a pre approval letter from the lending institution. ·Permanent Account Number of Purchaser under Income Tax law. Payment of stamp duty on the formal agreement or document for transfer of the property, signing of document by both parties and registration.

Deepika, Ghaziabad

1st October 2014

@Ankur,
After receiving the entire sale price hand over legal possession of the property alongwith documents of title in original.
Change name of the holder of the property to the purchaser in the records of the society, electricity company, municipal corporation, Index II etc.

Sandhya, Ghaziabad

1st October 2014

Hi Aniket,

As per my knowledge, the word conveyance means the transfer of ownership or interest in real property from one person to another by a document, such as a deed, lease, or mortgage. In India, transfer of property or rights in immovable property is governed by the Transfer of Property Act, 1882. For the transfer of any immovable property or rights in immovable property, it is necessary to execute a conveyance deed.

Dinesh K, Bhiwadi

22nd September 2014

Comment

Hi,
In my point of view, a sale deed, also called a “conveyance”, is a document which transfers immovable property be it land or a house, flat, office or other structure to another person. In almost all cases, the sale deed must be registered compulsorily except in the case of resale of units in existing cooperative societies where the state law grants a specific exemption from registration.

Anupriya, Bhiwadi

22nd September 2014

Hi aniket,

Yes Sale deed is also called a conveyance , all sale deeds are liable for stamp duty and the rates vary from state to state. Also the duty depends upon various factors, such as age of building, location and type of unit and so on.

Akshitha, Bhiwadi

22nd September 2014

Hi All,

A title deed is a document that proves the right of a person to an immovable property. A person can acquire an immovable property by various means and a properly stamped and executed document evidencing the transaction is a title document.

Raghuveer, Bhiwadi

22nd September 2014

@aniket,

For example a sale deed, a release deed, a relinquishment deed, a gift deed, a family settlement deed, a partition deed, a will all are evidence of how a person has acquired an immovable property and may be called title deeds.

Nimesh, Bhiwadi

22nd September 2014