What is differrence between conveyance deed and transfer deed ?
Rahul
(Querist) 21 February 2014
This query is : Resolved
Sir , i want to buy a flat from one friend of mine . he has a flat in a co operative society in ghatkopar which he had bought from some one in 1996 .he showed me the documents which is a conveyance deed which is unregistered, but he showed me the shares certificates that has been transferred in his name. i consulted an advocate with the copies of the conveyance deed , he asked me where is the transfer deed by which the shares has been transferred in my friends name? but my friend denies that there is no such clause that a transfer deed is mandatory for the transfer of shares certificates, conveyance deed was enough for transfer of shares at that time he said ...
Please guide
Anirudh
(Expert) 21 February 2014
Dear Mr. Rahul,
Conveyance Deed means Sale Deed. That means that the property is being conveyed/sold.
No immovable property can be transferred (i.e. transfer of the title/ownership of the property) without a Registered Conveyance Deed.
therefore it is not clear how one says that one has purchased a property in 1996 through a Conveyance Deed (but NOT REGISTERED)?
Anirudh
(Expert) 21 February 2014
If you so wish, you can get in touch with Mr. Ajay Sethi, who is an Expert in this LCI who is in Mumbai. I am giving below his co-ordinates.
ajaysethi64@gmail.com mobile no 9820087763
address: 4th Floor , 11 , Churchgate House,
32-34 Veer Nariman Road,
Fort Mumbai 400001
R.K Nanda
(Expert) 21 February 2014
consult local lawyer.
Rajendra K Goyal
(Expert) 21 February 2014
Unregistered Conveyance Deed or sale deed is illegal and is not acceptable.
The shares are in the name of your friend, there should be transfer deed.
You should get all the papers checked and got verified from a lawyer.
Rahul
(Querist) 22 February 2014
Sir ,
I consulted my lawyer with the copies of the share certificates , he said the transfer has been properly done , but the documents is understamped (ie. conveyence deed) as it was made in 20 rs judicial stamp paper and notarised it in the court and then the stamp duty was paid ,but again he raised the confusion that why did he notarised and why he did not register the deed ,he advised me to stay away from the deal as its shows the clear case of understamping . i have already paid the token amount
Please advice....
ajay sethi
(Expert) 22 February 2014
Rahul
1) was flat purchased by your friend from builder?
2) or was it purchased on resale basis?
please clarify . the document appears to be under stamped if done on Rs 20 stamp paper .
if subsequently full stamp duty has been paid the document would be properly stamped .
Mr anirudh thanks for your comments.
Rahul
(Querist) 22 February 2014
Ajay sir ,
He purchased it on resale basis from one of his relative.
thks for prompt response..
ajay sethi
(Expert) 22 February 2014
if seller had purchased it on resale basis it is not necessary to register sale deed . the problem you will face is if you want bank loan . no bank will sanction loan unless earlier sale deed was regd .
Rahul
(Querist) 22 February 2014
sir .
I have applied for the bank loan , they asked me for the registered conveyance deed ,or else they cannot sanction the loan . what is the other alternative for that ?
ajay sethi
(Expert) 22 February 2014
inform the bank that for resale flats registration is not a mandatory requirement .
