We provide services for Deemed Conveyance for co-operative societies. We have legal experts who has years of experience handling comprehensive application for deemed conveyance. Please contact us for more information.
The legal ownership of your society as a whole is not automatically acquired once the homeowners buy individual residences or once you form a co-operative housing society. A conveyance deed is a mandatory legal document that literally seals the deal. A big percentage of societies across the country exist without a Conveyance Deed which presents a set of challenges, including no ownership to the entire property and redevelopment woes.
When a residential building is constructed on a piece of land, it is owned by the builder or the builder has developed it for the land owner with developments rights.
Once a minimum of 51% flats in the project are sold, as per MOFA-1963, the builder is expected to form a housing society or association of apartment of these flat owners and hand over the entire ownership of the land, the construction on it and other amenities, if any, to the society.
With this, the ownership record of the land or the Property Card/7/12 extract of the revenue department, bears the name of the housing society and the name of builder or previous owner is removed. This transfer of rights is called execution of the conveyance deed and, with it, the role of the builder comes to an end.
Within four months of the formation of a housing society, the developer is required to legally convey the land and the plot ownership to the society, ideally to the managing committee members who are in charge of legal documents. When the developer/builder/landowner prepares and executes a conveyance deed within stipulated time period and presents it to the Registrar’s office, they have said to create a Regular Conveyance Deed, in which the society is handed over all the original documents from the builder without any inconvenience to either parties.
However, the builder/developer is not always prompt and proactive in following the legal guidelines and it has been recorded a few years ago that around 80% of housing societies had not been given the conveyance deed in Maharashtra alone. Builders refrain from giving conveyance in hopes of increased FSI that they could avail in the future or simply because they are negligent in following the mandatory procedures. In such scenarios, the societies have the provision of obtaining Deemed Conveyance with the help of competent authorities and the Sub-registrar.
When the builder proves to be an obstacle in obtaining the Conveyance Deed, the society has to follow a procedure of obtaining certificates and documents from local authorities while simultaneously applying to the Sub-registrar who examines the documents provided and allows the builder to present his case. Only after due diligence and after ascertaining that the society is correct in demanding conveyance, the Registrar passes the order of issuing Deemed Conveyance under the Registration Act 1908, which is then considered legal and final.