Scribd
Upload
35 views1 page

Deemed Conveyance and Its Importance

The document discusses the concept of deemed conveyance under the Maharashtra Ownership Flats Act, 1963. It explains that under the Act, a promoter is required to transfer ownership of land and buildings to a cooperative society within four months of society registration if 10 or more flats have been sold. However, promoters often avoid this to retain ownership benefits. The Act has been amended to allow a competent authority to issue a certificate for deemed conveyance if a promoter fails to execute a proper conveyance. This allows a society to unilaterally register conveyance of the land and building rights from the promoter to the society.

Uploaded by

Shirish
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
35 views1 page

Deemed Conveyance and Its Importance

The document discusses the concept of deemed conveyance under the Maharashtra Ownership Flats Act, 1963. It explains that under the Act, a promoter is required to transfer ownership of land and buildings to a cooperative society within four months of society registration if 10 or more flats have been sold. However, promoters often avoid this to retain ownership benefits. The Act has been amended to allow a competent authority to issue a certificate for deemed conveyance if a promoter fails to execute a proper conveyance. This allows a society to unilaterally register conveyance of the land and building rights from the promoter to the society.

Uploaded by

Shirish
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

DEEMED CONVEYANCE AND ITS IMPORTANCE

A Promoter (Builder) is legally bound to form a Co-operative Society or other


organization immediately after 10 flats are sold by him and for unsold flat the
promoter has to join the Society. Within four months of Registration of Society
or other organization the promoter has to perfect his title to the land and
convey his right, title and interest in the land and the building to the Society or
such organization. This provision is observed more in a breach than compliance
by the promoter.
The promoters avoid transferring their right, title and interest in the land and
the building to the Society so that they can reap the benefits of ownership of
land and building. As far as the Societies are concerned, they are deprived of
right to redevelop the property in absence of ownership of the land in their
name.
Maharashtra Ownership Flats Act, 1963 has been amended to provide for the
concept of the Deemed Conveyance when a Promoter fails to discharge his
obligation to execute conveyance in favor or the Organization of the flat
purchasers. A competent authority has been established to which the Society
can make and application in writing along with other prescribed relevant
documents for issuing a Certificate that such Society is entitled to have an
unilateral Deemed Conveyance executed in its favor and to have it registered.
The competent authority may make such enquiry as deemed necessary. The
competent authority after verifying the authenticity of documents submitted
and also after giving the promoter an opportunity of hearing and on being
satisfied that the case is fit for issuing the certificate as referred above shall
issue a certificate to the Sub-Registrar or Registration Officer wherein the
competent authority will certify that the case is fit for enforcing unilateral
execution of conveyance for transfer of right, title and interest of the promoter
in the land and building in favor of the applicant Society/ Organization.

You might also like