In the year of 2010, the provision of Deemed Conveyance for cooperative housing societies is amended by state government under sub- section (3) of section 11 of the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963.

The essence of the Deemed Conveyance is as follows.

Deemed Conveyance Amendment is applicable to those cooperative housing Societies which have not received Conveyance from the Land Owners & Builder/Promoter/ Developers within prescribed period of 4 Months of their registration.
The aggrieved Society shall make a Deemed Conveyance Application to the Competent Authority designated by Government of Maharashtra u/s. 5[a] of MOF Act 1963.
The said Application shall include the Documents notified by Government of Maharashtra for Deemed Conveyance.
The Competent Authority shall conduct the hearings.
The Competent Authority on satisfaction shall issue the Deemed Conveyance Order & Certificate in favour of the Aggrieved Society.
The Competent Authority shall execute the Deemed Conveyance on behalf of the Defaulting Builder/Promoter/ Developers with the Aggrieved Society.

Conveyance of a Property in case of a Co- Operative Housing Society is transferring the Rights, Title, Interest and Ownership of the Land and Building from the Land Owner/ Builder/Promoter/ Developer to the Co- Operative Housing Society.

As per the provisions under Section 11 of Maharashtra Ownership Flat Act, 1963, Conveyance is the Right of the Co- Operative Housing Society and the Duty of the Builder/ Promoter to be executed within prescribed time limit i.el 4 months from the date of Registration of the Co- Operative Housing Society.

The Conveyance is to be executed by way of Conveyance Deed between the Land Owners & the Co- Operative Housing Society where the Property Developer is the Confirming Party. This Conveyance Deed is required to be Stamped properly as per the Bombay Stamp Act, 1958 on or before registering the same as per the Registration Act, 1908.The certified copy of Registered Conveyance Deed along with the Index II is to be submitted to concern Government Office for change in the mutation entries & get enrolled on the 7/12 Extract of the Property.

After the Land and Building is conveyed in favour of the Co-operative Housing Society and the Title of the property is fully and finally recorded in the Property Card/7/12 Extract and other Revenue Records.

If Builder/Promoter fails to execute the conveyance deed in favour of cooperative housing socity within prescribed period then then that society can apply for deemed conveyance u/s. 11[3] of MOF Act 1963 in the office of District Deputy Registrar of Cooperative societies appointed u/s 5[a] of MOF Act 1963.

1. Easy to form:

The formation of a cooperative society is very simple as compared to the formation of any other form of business organisations. Any ten adults can join together and form a cooperative society. The procedure involves in the registration of a cooperative society is very simple and easy. No legal formalities are required for the formation of cooperative society.

2. No obstruction for membership:

Unless and otherwise specifically debarred, the membership of cooperative society is open to everybody. Nobody is obstructed to join on the basis of religion, caste, creed, sex and colour etc. A person can become a member of a society at any time he likes and can leave the society when he does not like to continue as ; member.

3. Limited liability:

In most cases, the liabilities of the members of the society is limited to the extent of capital contributed by them. Hence, they are relieved from the fear of attachment of their private property, in case of the society suffers financial losses.

4. Service motive:

In Cooperative society members are provided with better good and services at reasonable prices. The society also provides financial help to its members < the concessional rates. It assists in setting up production units and marketing of produces c small business houses so also small farmers for their agricultural products. 5. Democratic management: The cooperative society is managed by the elected members from and among themselves. Every member has equal rights through its single vote but can take active part in' the formulation of the policies of the society. Thus all member are equally important for the society. 6. Stability and continuity: A cooperative society cannot be dissolved by the death insolvency, lunacy, permanent incapability of the members. Therefore, it has stable life are continues to exist for a longer period. It has got separate legal existence. New members m< join and old members may quit the society but society continues to function unless are otherwise all members unanimously decided to close the same. 7. Economic operations: The operation carried on by the cooperative society economical due to the eliminations of middlemen. The services of middlemen are provided by the members of the society with the minimum cost. In the case of cooperative society, the recurring and non-recurring expenses are very less. Further, the economies of scale-ma production or purchase, automatically reduces the procurement price of the goods, thereby minimises the selling price. 8. Surplus shared by the members: The society sells goods to its members on a nominal profit. In some cases, the society sells goods to outsiders. This profit is utilised for meeting the day-to-day administration cost of the society. The procedure for distribution of profit that some portion of the surplus is spent for the welfare of the members, some portion kept reserve whereas the balance shared among the members as dividend on the basis of this purchases. 9. State patronage: Government provides special assistance to the societies to enable them to achieve their objectives successfully. Therefore, the societies are given financial lo< at lower rates. Government also extends many type of subsidies to cooperative societies strengthening their financial stability and sustainable growth in future.