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.