Conveyance Deed!

It is very different from a Sale Deed.
When you buy or sell a property you hear terms like Sale Deed and Conveyance
Deed, many people find both terms similar but they are not.
Let us understand it through an example :
Suppose there is a property which is owned by person A who has the following rights
as an owner :
 Right to use the property.
 Right to lease the property.
 Right to Mortgage the property.
 Right to Sell the property.
But now if the person A wants to transfer his rights to person B then he can do in
various ways like :
He can sell the property.
He can transfer the right to use which means he can rent the property.
He can mortgage the property.
Suppose he is selling the property for complete transfer of ownership then he needs
to sign a Sale Deed, Gift Deed, Relinquishment Deed, Exchange Deed.
For the transferring of right to use then the owner will sign a Lease Deed/Agreement
in which only the right to use will be transferred from person A to person B,
sometimes in some cities there are leasehold properties for which the Government
issued a 99 year lease in which the Govt will remain the owner for 99 years and the
person will only remain a leader.
The owner can also mortgage the property to the Bank in which for non payment of
dues the Bank has the right to sell the property.
All above are kinds of Conveyance Deeds only through which the right is getting
transferred from one person to another, and the person who grants the right is
grantor and the person who receives the right is grantee.
So in short Sale Deed, Mortgage Deed, Exchange Deed are all types of Conveyance
Deed but in Sale Deed the ownership right gets transferred through the sale in
exchange for a consideration.
In some cases there are multiple owners of a property, eg. 5 owners, so all owners can
separately transfer their rights in whichever way they like.
But in case of undivided property there has to be the consent from both parties
concerned.
Another important point is always get the Deed registered at the Sub Registrars
Office otherwise it will be an irregular document.

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