Seldom do the people realize the advantages of obtaining the Conveyance Deed and the registering the name of the Society in Property Card as the next owner of the land that makes it one of the most important Documents that every Society should possess.Ĭonsidering the fact that the provisions of the Bye-laws distinctively mention the Conveyance issue right from Bye-law No: 5: The Object of the Society shall be to obtain Conveyance from the Owner/Promoter (Builder) in accordance with the provisions of the Ownership Flats Act and the Rules made there under, of the right, title and interest in the land with the building/buildings thereon. As per Section 13 of Maharashtra Ownership Flats Act, 1963, failure to give Conveyance is an offence and the Builder/Owner of the land can be imprisoned up to 3 years or fined or both.Īlthough the Society is governed by the MCS Act, Rules and the Bye-laws, a common situation most prevalent in a Cooperative Housing Societies is where the Members and sometimes even the Office Bearers are ignorant about the importance of the Conveyance Deed. Conveyance is a Transfer the Title of Land and Building by the Builder/Developer/Owner of the land in favour of Housing Society by execution of Conveyance Deed.Īs per the Housing Society Bye-Laws, the main objective of formation of the Society is to obtain the Conveyance and if Conveyance is not executed by the Builder/Owner within four months from the date of Registration of the Society, a case can be filed against the Builder/Owner of the land to obtain the Conveyance.
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