Faq On Different Kind Of Legal Documents

1. What is meant by Conveyance Deed ?
Conveyance deed generally means an instrument whereby one party transfers his right, title, interest vested in immovable or movable property in favour of any other party, which is not otherwise specifically provided by Schedule I or IA of the Act.

 Conveyance includes –

1. Conveyance on sale
2. Every Instrument and every decree or final order of any Civil Court.
3. Every order made by the High Court under Section 394 of Companies Act,  1956 in respect of amalgamation or merger of companies.

2. What is meant by Lease Deed ?
Lease in general terms is transfer of a right reduced into writing to enjoy an immovable property for a specific period of time for consideration. It includes —

1. A Patta
2. A ‘kabuliyat’; or undertaking in writing, not being a counterpart of a lease , to cultivate, occupy or pay or deliver rent for immovable property.
3. Any document by which tolls of any description are let;
4. Any writing on an application intended to signify that the application is granted.

3. What is meant by Mortgage Deed ?
Mortgage deed is a document by which, the debtor to secure the amount/loan given or to be given by the creditor, or for performance of an engagement, creates or transfers a right in or upon his property in favour of the creditor.

4. What is meant by Power of Attorney ?
Power of attorney is a document by which, a person authorises another person to act on his behalf and in his name which includes powers to sign and take decisions required on behalf of the person giving the power of attorney. Similarly, powers given to represent on behalf of the principal in any court, tribunal or before any authority also fall under this category. However, Vakalathnamas chargeable under the Court Fees Act are also powers of attorney but are excluded from the definition in Indian Stamp Act to avoid double taxation.

5. What is meant by Gift Deed ?
Gift deed means a document by which, the existing movable or immovable property is transferred voluntarily and without consideration by one person to another person and accepted by or on behalf of the donee during the life time of the donor. A person gifting the property is called as the ‘donor’ and the person accepting is called as the ‘donee’.

6. What is meant by a Bond ?
Bond generally is (1) a document by which, a person obliges himself to pay money to another person, on condition that such obligation shall be void if a specified act is performed or not performed as the case may be; and (2) a document by which, a person imposes on himself a binding in the presence of witnesses, to pay to another person, money, grains, or agricultural produce.

7. What is meant by a Partition Deed ?
Partition deed means a document by which the co-owners or coparceners of the property, divide or agree to divide the property by metes and bounds. Following kinds of documents are also included in this category:

1. Final order issued by Revenue Authority or Civil Court effecting the partition.
2. Award by Arbitration Tribunal directing division; and
3. A document of any nature regarding division of property, written and signed by the co-owners or the coparceners.

8. What is meant by Settlement?
Settlement is a document other than Will by which, the settler disposes his immovable and movable property during his life time –

1. in consideration of marriage;
2. for the purpose of distribution of the property amongst family members or for whom he wishes to make provision for or for any person depending on him; or
3. for any religious or charitable purpose.  It includes an arrangement to make such a disposition, and if it is not made in writing, any document recording the terms of any such disposition.

9. What is meant by Immovable Property ?
Immovable property includes land, building, rights to ways, lights, ferries, fisheries or any other benefit to arise out of land and things attached to earth or permanently fastened to anything which is attached to earth, but not standing timber, growing crops or grass.

10. What is meant by Movable Property ?
Movable Property generally includes standing timber, growing crops and grass, fruits on trees or their juice and such property of any other kind, except immovable property.

11. What is meant by Exchange?
When two persons mutually transfer the ownership of one thing for the ownership of another, neither thing nor both things being money, it is exchange.

12. What is difference between instrument and document?
Every writing containing evidence or information is a document. While all instruments are documents, all documents are not instruments. Instrument includes every document by which any right or liability is, or purports to be, created, transferred, limited, extended, extinguished or recorded.

13. What is meant by Notary?
A Notary is a duly appointed officer under the Notaries Act whose function is to draw, attest and certify deeds under his office seal, to note or certify transactions relating to negotiable instruments and to draw up protests by master of ship.

14. What is meant by Partnership?
Partnership is the relationship between persons who have agreed to share the
profits of the business carried on by all or any of them acting for all.

15. What is meant by Promissory Note (Pronote)?
A promissory note is an instrument in writing (not being a bank note or currency note) containing an unconditional undertaking signed by the maker to pay a certain sum of money only to, or the order of, a certain person or to the bearer. It includes a note promising the payment of any sum of money out of any particular fund which may or may not be available or upon any condition or contingency which
may or may not be performed or happen.

16. What is meant by Release?
Deed of Release is an instrument whereby a person renounces a claim upon another person or against the specified property.

17. What is meant by Trust?
Trust is an obligation annexed to the ownership of the property and arising out of a confidence reposed in and adopted by, the owner or declared and accepted by him for the benefit of another or of other and owner.