In Maharashtra, Conveyance Deed, Deemed Conveyance, 7/12 Extract, and Property Card all serve different purposes related to land ownership and property transactions. Let’s compare them in more detail to clarify their roles:
1. Conveyance Deed:
A Conveyance Deed is a formal document that legally transfers the title of land or property from one party (usually the builder or developer) to another (typically a cooperative housing society). In the case of cooperative housing societies, it is the document that transfers the title of the land and building from the developer to the society.
- Purpose: To officially transfer property ownership from the developer or previous owner to the society (or individual).
- Key Details: Contains the description of the property, parties involved in the transaction, terms of the sale or transfer, and a legal acknowledgment of the transaction.
- When Used: The conveyance deed is executed when a developer or builder formally transfers ownership of the property to the housing society after construction.
2. Deemed Conveyance:
Deemed Conveyance refers to the situation where the ownership of land and buildings is automatically transferred to a housing society by the provisions of the Maharashtra Cooperative Societies Act if the builder fails to execute a conveyance deed within a stipulated period (usually four months).
- Purpose: To transfer ownership of the land and building to the cooperative housing society when the builder or developer fails to do so voluntarily.
- Key Details: Under this provision, the society can approach the Registrar of Cooperative Societies to request a deemed conveyance after the prescribed period of non-compliance by the builder.
- When Used: If the builder fails to transfer the property through a conveyance deed, the society can apply for a deemed conveyance through the cooperative registrar, ensuring that the society gets legal ownership without waiting for the builder’s cooperation.
3. 7/12 Extract:
The 7/12 Extract (or “7/12 Utara”) is a land record document that provides details about agricultural land or land in rural areas in Maharashtra. It includes information such as the name of the landowner, the land’s legal status, and any encumbrances on the land (such as loans or mortgages).
- Purpose: Serves as proof of ownership and legal status of agricultural or rural land.
- Key Details: It includes details like the name of the owner, the land survey number, its revenue status, classification of the land, and any charges or mortgages against the land.
- When Used: This document is mainly used in property transactions related to agricultural or rural land and is not typically used for urban properties.
4. Property Card:
A Property Card is a document issued by the municipal or revenue authorities that records the ownership and legal status of a property in urban areas. It is a crucial document for properties located in municipal or urban regions in Maharashtra.
- Purpose: To provide an official record of ownership and details about the property, including liabilities or encumbrances.
- Key Details: It contains details such as the owner’s name, property size, area, land classification, and details of any mortgages, liens, or encumbrances.
- When Used: It is used primarily for verifying ownership and other legal details in urban areas. It is essential when buying, selling, or mortgaging urban property.
Comparison Table:
| Aspect | Conveyance Deed | Deemed Conveyance | 7/12 Extract | Property Card |
| Purpose | Transfer of property ownership from developer to society | Legal transfer of ownership to society if the builder fails to execute the conveyance deed | Records land ownership and revenue details of agricultural/rural land | Official record of ownership and legal status of urban property |
| Issued By | Notarized or registered with the sub-registrar | Registrar of Cooperative Societies | Revenue or Taluka office | Municipal or Revenue authorities |
| Key Details | Property description, parties involved, terms of transfer | Ownership transfer to society without builder’s cooperation | Owner’s name, land survey number, land classification, encumbrances | Owner’s name, property size, liabilities, land classification |
| Legal Relevance | Establishes legal transfer of title of land/building | Provides legal ownership to the society in the absence of a formal conveyance deed | Proof of ownership, legal status of agricultural land | Proof of ownership, legal status, and liabilities of urban property |
| Used For | Property transactions (sale, transfer) | Ownership transfer to society when builder defaults | Land verification, sale of agricultural land | Sale, mortgage, or verification of urban property |
| Applies To | Typically for housing societies and developers | Cooperative housing societies when the builder defaults | Agricultural or rural land | Urban properties and land in municipal areas |
Key Differences:
- Conveyance Deed and Deemed Conveyance both deal with the transfer of land ownership, but the conveyance deed is voluntary and executed by the builder/developer, while deemed conveyance happens when the builder does not comply with transferring the property title to the society.
- 7/12 Extract applies mainly to agricultural or rural lands and records land details and ownership, while the Property Card is used for urban land and properties, confirming ownership and encumbrances.
In conclusion, these documents serve distinct but complementary roles in property transactions and ownership verification in Maharashtra, depending on the type of property (urban or agricultural) and the situation (developer transfer vs. government record).
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