Advocate Vijay Trivedi - My Profile in Nutshell ..
I have been attached with Real Estate industry – in last 23
years and become Legal Documents Specialist.
➔ My recent Achievements:
Timely Accomplished Unique assignments under MOFA in Maharashtra:
First in Mumbai
City and Second in India successfully carried out Unilateral Deemed Conveyance: for industrial plot in Mumbai and industrial re-development is under
consideration.
First ever fastest
deemed conveyance ordered received in favour of Mohaprabha CHS in
Just 40 days under MOFA from DDR- City (1) Mumbai. Merger of two and more CHS
got Deemed conveyance ordered in favoured of and processed for redevelopment of
the housing society in Mumbai.
Recently I got Leased
Property got Deemed conveyance order under MOFA in Mumbai city.
➔
Successful
Tenants Negotiations SRA – Private Redevelopment:
SRA – Private
Redevelopment: Successful completion of Redevelopment
Process Planning, and ensuring Tenants Satisfaction with reliabilities, spanning
form smaller to larger tenanted units at SRA and Private Redevelopments, JVS,
DR Assignments.
To handle all
issues pertaining to SRA (Slum Rehabilitation Authority), Tenancy,
Redevelopment, Evictions, etc. and guide the Company with appropriate legal
procedure to be adopted for resolving them.
Meanwhile, I got opportunity to make presentation to the
various society and following are the various aspects that cater deemed
conveyance. If any one wants, any clarification can email me on
vijtrivedi@gmail.com, will revert with
special answers.
Deemed Conveyance
Draft Presentation Transcript for PPT presentation
Introduction:
Why and What is Land
and building Conveyance?
- Many property owners in
Mumbai particularly co-operative societies face the serious problem of not
having conveyance done on their purchased property asset.
- This is particularly so in
properties purchased very many years ago.
- Given that real estate is
a valuable asset and laws now allow it to be further developed, lack of
conveyance deed is a crippling omission.
- A conveyance deed is a
document that conveys a property’s title of ownership from the original
owner to the ultimate purchaser.
- Establishing the right of
the current owner in the absence of the orignal owner/ seller, is called
deemed conveyance.
- It is the legal remedy in
the situation where the seller is either untraceable or is unwilling to
come forward and co-operate in the process of establishing current
ownership of the property.
In this case, Deemed
conveyance protects the basic right of the purchaser to the title of property.
- It ensures no one,
including the seller, can then fraudulently claim a right to the property
in future or try to use, pass off in public and try and dispose of the
same as though it were his own.
- Conveyance or Deemed
conveyance is the right and privilege of every Co-operative Society –
housing, commercial, or industrial, that should come into existence within
four months of its formation.
- Considering the changing
scenario in the real estate sector, expenditure for procuring the
Conveyance would be comparatively negligible in comparison to the benefits
the Society and its members would derive once Conveyance is procured.
What supposed to be
done by builder/developer/landlord on/after forming a cooperative society?
- As per MOFA, The Promoter(
Builder/ Developer) is legally required to convey the land and the
building within 4 months of
formation to the society or
any legal body of the flat purchasers.
- However, it has been the
experience that many promoters (Builders/Developers) have not conveyed the
land and building to the legal bodies, having some vested interest.
- Therefore, government has
amended the Maharashtra Ownership Flats Act, 1963 (MOFA) and provided for
the deemed conveyance in favour of the legal bodies.
- Getting the title of land
and building by adopting the above procedure is known as deemed
conveyance.
What is the
difference between the deemed Conveyance and the Regular Conveyance.?
Legal Dictionary meaning - “deem” means
To judge or consider
Whereas, deemed
means:
1. To have as an opinion (For
e.g. judge may say: deemed it was time for a change)
2. To regard as; consider (for
e…g deemed the results may be satisfactory)
Whereas conveyance means:
1) The
transfer of the title and interest of land by one or more persons, to another
or others.
2) By
the term persons is here understood not only natural persons but corporations,
cooperative society.
3) The
instrument which conveys the property is also called a conveyance deed.
Hence, what is conveyance
deed
1) The
written document which transfers title (ownership) or an interest in real
property to another person.
2) To
complete the transfer (conveyance) the deed must be recorded in the office of
the registrar.
Hence for our purpose
for Conveyance and Deemed conveyance is nutshell:
- In case of regular conveyance, the builder/
Developer/ Landowner prepares a conveyance deed, execute the same and
appear before the Sub-Registrar of assurance for admitting their
signature. Without any problem, the legal bodies get the conveyance with
the co-operation of the builder/ landowner.
- In case of deemed conveyance, the builder/
land owner or their legal heirs are not co-operating, therefore, the
aggrieved parties appear before the Designated Competent Authority, who
hears all the parties and passes the necessary order of conveyance.
1) Ownership
on the other hand is conglomeration of legal rights.
2) Ownership
denotes the legal relation between a person and an object (property).
3) Ownership
is thus the sum total of rights a person has over an object.
4) A
normal case of ownership would exhibit the following rights:
·
The right to possession an object (Though may
not have the physical possession)
·
The right to use and enjoy the thing owned
·
The right to consume, destroy or redevelop or
alienate the things owned. These are known as the liberties of ownership and
power.
·
The right to enjoy a property indefinitely. Thus
house property remains under the ownership of the legal owners until sold.
·
The right to retain residual right over a
property / land. Thus when property let on lease, mortgage owner retains right
of reversion i.e. the right to receive back the property on expiry of lease.
Hence, the Ownership is “the bundle of rights” in a property and can be owned by an
individual, by two persons, an association of person, a cooperative society.
- Again, the form of
ownership may be diverse, such as ownership in case of in cooperative is
co-share and in an undivided property interest.
- In case of cooperative
society, the entire land and building comprising the common property
belonging to the co-operative society, which administers the areas of
common uses and facilities.
- The individual flat / shop
owner, as a member of society , enjoys title to and exclusive right over
his own premises together with proportionate share in areas of common use
and facilities.
- In case of any transfer,
the cooperative society has right of pre-emption in order to regulate its
membership patter, under the state cooperatives Act, (for e.g. MOFA)
In Nutshell, once deemed conveyance deed is done and
registered, cooperative society enjoys the highest form of right with regards
to Real Estate goes by the name Freehold
or Free Simple. Such owner is entitle to:
a) Use
of land/property in any manner. (For e.g. Residence/commercial/industrial etc.)
b) Enjoy
property by exclusive possession. (for e.g. Outsider has no scope in my
tertiary)
c) Derive
benefits, income or profit from the property. (For e.g. Cell Towner,
Advertisement hoarding, rentals etc.)
d) Dispose
the property by sale. (For e.g. Redevelopment, Development Rights etc.)
e) Enjoy/use
the property so long as it does not result in a nuisance (For e.g. Enjoy it end
in nos. of way, to the extent it is not harm public interest at large )
Check-list for Deemed Conveyance Order – Documents should be available
From Society:
1. Society Registration Certificate
2. List of Members
3. Complete Copy of Agreement for Sale
From Members:
1. Stamp Duty & Registration receipt of all the members
2. Stamp Duty & Registration receipt of all the Re-sale
flats (Now not required)
3. Index II of all the agreements, if any, normally attached
with agreements
From Developer / Land
Owners:
1. Development Agreement
2. Death Certificate of owners of the land who have expired
3. Partnership deed of the partners
4. Partnership Deed Registration Proof
5. Conveyance Agreement with the Builder
6. Will, Probate Copy, in case the development agreement is
signed by legal heirs.
7. Land Agreement (with the earlier owner and Builder)
City Survey Office /
Talati / Tashildar Office:
1. 7/12 Extract
2. Village Form No.6
3. Property Card
4. City Survey Map
Collector Office:
1.N.A Order
2.U.L.C Order (If not available, then it is allowed, as the
ULC Act has been abolished by the state govt.)
3.N.A Tax paid Receipt
From Local Authority / BMC
1. BMC approved Plan
2. BMC (Intimation of Disapproval - IOD)
3. BMC (Commencement Certificate)
4. BMC (Occupation Certificate)
5. BMC (Building Completion Certificate)
6. BMC (Property Tax Paid)
7. Location Map
Reports From
Professional:
1. Survey Report – From Architect / Survey Engineer
2. Search Report – From an Advocate
3. Title Clearance Certificate about the property by an
advocate (30 years)
4. Deemed Conveyance Draft (Universal Deemed Conveyance
Draft)
Deemed Conveyance Application:
There are 20
documents to be submitted with the application, once society finalised will
have all the details will be provided in due course of time.
THANK YOU
Advocate Vijay Trivedi
High Court, Mumbai
# 9819473440 vijtrivedi@gmail.com
