What Is Deemed Conveyance?

Are you curious to know what is deemed conveyance? You have come to the right place as I am going to tell you everything about deemed conveyance in a very simple explanation. Without further discussion let’s begin to know what is deemed conveyance?

Property ownership is a significant milestone, but it can sometimes be accompanied by legal complexities, particularly in cases where a cooperative housing society or builder fails to complete the conveyance process. Deemed conveyance is a legal provision that enables property owners to obtain ownership rights of their properties when the conveyance process is not executed by the concerned parties. In this blog post, we will delve into the concept of deemed conveyance, its importance in real estate transactions, and how it simplifies the process for property owners.

What Is Deemed Conveyance?

Deemed conveyance refers to the legal provision that allows property owners to obtain the conveyance or ownership rights of their properties even if the necessary documents have not been executed by the developer, builder, or cooperative housing society. It is considered a remedial measure to address situations where the rightful owners face challenges in obtaining legal ownership due to non-compliance by the concerned parties.

The Significance Of Deemed Conveyance In Real Estate Transactions

  1. Obtaining Legal Ownership: Deemed conveyance provides a legal mechanism for property owners to secure their ownership rights. It ensures that rightful owners have the necessary documentation to establish their ownership and exercise their rights over the property.
  2. Resolving Delayed Conveyance Issues: In cases where developers or cooperative housing societies delay or neglect executing the conveyance process, deemed conveyance provides a solution for property owners to acquire legal ownership without being dependent on the concerned parties’ cooperation.
  3. Simplifying Property Transactions: Deemed conveyance simplifies property transactions by eliminating the need for lengthy negotiations, disputes, or delays caused by non-cooperation from developers or housing societies. It streamlines the process, enabling property owners to establish their legal rights and facilitate smoother transactions.
  4. Protecting the Rights of Property Owners: Deemed conveyance protects the interests and rights of property owners by providing them with the legal recognition and documentation they need to establish their ownership. It ensures that they are not deprived of their rightful ownership due to the non-compliance of other parties involved.

The Process And Eligibility Criteria For Deemed Conveyance

The process and eligibility criteria for deemed conveyance may vary based on local laws and regulations. However, here are some general steps involved:

  1. Application: The property owners, collectively or individually, file an application with the appropriate authority responsible for deemed conveyance. The application typically includes relevant documents, proofs, and supporting evidence.
  2. Verification: The authority reviews the application and conducts a verification process to ascertain the eligibility of the property owners and the validity of their claims.
  3. Notice and Response: The authority issues notices to the concerned parties, such as developers or housing societies, informing them about the application for deemed conveyance. The parties are given an opportunity to respond and present their objections or arguments.
  4. Decision and Order: After considering all the relevant information and responses, the authority makes a decision on granting deemed conveyance. If approved, an order is issued, declaring the property owners as the legal owners of the respective properties.
  5. Registration: The property owners must complete the necessary registration process and fulfill any additional requirements as per local laws to complete the deemed conveyance and obtain the legal ownership rights.

It is important to consult legal experts or professionals specializing in real estate laws to understand the specific process and requirements applicable to your jurisdiction.

Conclusion

Deemed conveyance serves as a legal provision that empowers property owners to obtain legal ownership rights in cases where the conveyance process has been delayed or neglected by developers or housing societies. By simplifying property transactions and protecting the rights of property owners, deemed conveyance plays a crucial role in ensuring a smoother and more secure real estate environment. If you find yourself in a situation where the conveyance process is pending or delayed, exploring the option of deemed conveyance can help you secure your rightful ownership and streamline your property transactions.

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FAQ

What Is The Meaning Of Deemed Conveyance?

Under the provision, deemed conveyance means after the expiry of 4 months of formation of the legal body, the land and building is deemed to have been conveyed to the legal body and to bring the same in the revenue record; Competent Authority has been designated who will hear the parties on the basis of applications 

What Are The Benefits Of Deemed Conveyance?

The provision of obtaining the deemed conveyance, enables societies to get the legal title and ownership of land, developing rights and to make entries in the government’s records. It makes the land free and marketable to prospective buyers.

What Is The Procedure Of Deemed Conveyance?

The procedure to get Deemed Conveyance

Submit an application in Form -7 to the District Dy. Registrar, Co-operative Societies (Competent Authority). Along with the form, add the court fee stamp of Rs 2000. Affix the documents listed below along with the application form.

What Is The Fee For Deemed Conveyance In Maharashtra?

Deemed Conveyance Charges

A housing society should submit an application to obtain a ‘certificate of deemed conveyance’, by affixing a court fee of Rs 2000, along with all the required documents.

 

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