CONVEYANCING
CONVEYANCING
Conveyancing is a system of documentation relating to transactions of properties movable or immovable as well as contracts.
Conveyancing refers to the legal process of transferring ownership of immovable property (like land or buildings) from one person (the seller) to another (the buyer). It involves the preparation, execution, and registration of legal documents required for this transfer.
Detailed Explanation:
Conveyancing includes two main stages:
Agreement to Sell:
A contract is made between the seller and buyer, outlining the terms and conditions of sale.
It may include payment schedule, possession date, etc.
Transfer/Conveyance Deed:
A deed of conveyance (often called a sale deed) is prepared and executed.
This deed is then registered with the local land or property registry office.
Documents involved in Conveyancing:
Agreement to Sell
Sale Deed / Conveyance Deed
Title Verification Documents
Encumbrance Certificate
Mutation Documents
Stamp Duty & Registration Receipts
Purpose of Conveyancing:
Ensures legal validity of the property transfer.
Protects both buyer and seller from future legal disputes.
Confirms that the property is free from encumbrances (e.g., mortgages or legal claims).
In India:
Conveyancing is governed by:
Transfer of Property Act, 1882
Registration Act, 1908
Indian Stamp Act, 1899
CONVEYANCING
Conveyancing is a system of documentation relating to transactions of properties movable or immovable as well as contracts.
Meaning: The law and practice of effecting property transactions and of contracts in general is commonly known as 'Conveyancing', Conveyancing is described as an "art of creating, transferring and extinguishing interests in property both in dealing with substantive law and providing examples to illustrate its principles.
Importance of Conveyancing: The question arises, what is the importance or advantage of the conveyancing system. The importance arises out of the legal system prevailing in the society.
The society which recognizes private ownership of property and is governed by the Rule of Law must have necessarily laws governing rights and obligations of persons owning properties R or otherwise and the laws governing dealings of properties and other transactions.
