Is A Conveyance The Same As A Title Deed?
Is A Conveyance The Same As A Title Deed?
A conveyance is not the same as a title deed. A title deed is a legal document that proves ownership of a property. It typically includes information about the property’s legal description, the names of the buyer and seller, and any encumbrances or restrictions on the property.
On the other hand, a conveyance deed is a legal document that is used to transfer the property title from one person to another in various situations, such as mortgages, leases, exchanges, gifts, or other circumstances.
In other words, a conveyance deed is a means of transferring property ownership, while a title deed is the proof of ownership itself.
What is a Conveyance Deed & Why Is It Important?
A conveyance deed, also known as a real estate conveyance instrument, is a legal document used in real estate transactions to transfer the title of a property from one party to another at an agreed-upon price.
It serves as legal evidence that there is no outstanding debt against the property and ensures the legal transfer of ownership rights and interests.
The primary purpose of a conveyance deed is to facilitate the lawful transfer of property and provide proper documentation for the transaction.
In case of any breach of contract, the conveyance deed can also be used as evidence to resolve disputes, and the party receiving the property may seek damages through legal means.
Difference Between Conveyance Deed and Sale Deed
A sale deed and a conveyance deed are distinct legal documents used to transfer property ownership in India. The primary difference lies in the purpose of each document.
A sale deed records the agreement for the sale of a property and is executed after an Agreement to Sale.
It is governed by the Registration of Property Act, 1908, and signifies the transfer of property ownership as a result of a sale.
On the other hand, a conveyance deed transfers the title of the property from one person to another without any exchange of money.
It is a broader term that encompasses various types of property transfer transactions, including gifts, exchanges, and mortgages.
In short, a sale deed is specific to property sales and represents the legal title transfer after an agreement to sell, while a conveyance deed is a more general document for transferring property rights, often without any monetary exchange.
What is the Difference Between Conveyance Deed and Registry?
A conveyance deed and a registry are two distinct legal documents used in property transactions, particularly in the context of real estate.
A conveyance deed is a formal document that facilitates the voluntary transfer of property ownership from one party to another. It is a legal instrument that outlines the terms and conditions of the property transfer, including the consideration amount, property description, and the identities of the parties involved.
Conveyance deeds are essential for transferring property rights and ensuring legal clarity in property transactions.
On the other hand, a registry, often referred to as property registration, is a legal requirement in many countries worldwide. It is the process through which a property is officially transferred from one owner to another.
The registry serves as a formal record of the property transfer, and it is essential for establishing legal ownership and for tax and government record-keeping purposes.
The primary difference between the two lies in their purpose and necessity. Conveyance deeds are used to detail the terms of the property transfer and can be beneficial in transactions, but they are not always mandatory.
In contrast, property registration through a registry is a legal requirement in many jurisdictions and is crucial for establishing legal ownership and complying with government regulations.