Deemed Conveyance is a legal process in India that is essential for property owners. The process ensures that the rightful owner of the property is established, and the property is transferred in their name. Many property owners in India are unaware of Deemed Conveyance, and this can cause a lot of legal issues in the future. In this article, we will cover everything you need to know about Deemed Conveyance, including its importance, the process, and the benefits of obtaining it.
What is Deemed Conveyance?
Deemed Conveyance is a legal process in India that is used to transfer the ownership of a property from the builder or developer to the housing society or apartment owners. The process is initiated when the builder or developer fails to convey the property to the society or apartment owners within a specified period.
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Why is Deemed Conveyance important?
Deemed Conveyance is important for several reasons, including:
- It ensures that the property is transferred to the rightful owner.
- It eliminates the need for the property owner to rely on the builder or developer for any legal issues related to the property.
- It enables the society or apartment owners to manage the property effectively and make decisions related to maintenance, repairs, and other issues.
- It increases the value of the property, as the ownership is established, and the legal issues are resolved.
Process of Deemed Conveyance:
The process of obtaining Deemed Conveyance involves several steps, including:
- Applying to the Competent Authority: The society or apartment owners must apply to the Competent Authority for Deemed Conveyance.
- Verification of Documents: The Competent Authority verifies the documents related to the property, such as the development agreement, power of attorney, and other legal documents.
- Issuance of Notice: The Competent Authority issues a notice to the builder or developer, asking them to convey the property to the society or apartment owners.
- Hearing: The Competent Authority conducts a hearing, and if the builder or developer fails to appear, the society or apartment owners can proceed with the Deemed Conveyance.
- Conveyance Deed: Once the Deemed Conveyance is approved, a Conveyance Deed is executed, and the property is transferred to the society or apartment owners.
Benefits of obtaining Deemed Conveyance:
Obtaining Deemed Conveyance has several benefits, including:
- Establishes ownership: Deemed Conveyance establishes the ownership of the property, which is essential for selling or transferring the property.
- Resolves legal issues: Deemed Conveyance resolves any legal issues related to the property, which can save the property owner from future legal battles.
- Enables effective management: Deemed Conveyance enables the society or apartment owners to manage the property effectively and make decisions related to maintenance, repairs, and other issues.
- Increases property value: Deemed Conveyance increases the value of the property, as the ownership is established, and the legal issues are resolved.
FAQs:
Q. How long does it take to obtain Deemed Conveyance?
A. The process of obtaining Deemed Conveyance can take anywhere from 6 months to 2 years, depending on the complexity of the case.
Q. Can Deemed Conveyance be obtained for all types of properties?
A. Yes, Deemed Conveyance can be obtained for all types of properties, including