The most sure shot way to ensure that your dream home is yours alone and free of any dispute is through a Conveyance Deed.
Let us try and understand, everything that is there to know about this deed.
What is Conveyance Deed?
This is a contractual document that transfers the legal title of the property from the buyer to the seller against a valid consideration, which is usually a monetary benefit. However, if it is a gift deed, then consideration is treated as invalid, as here the transfer of property ownership is based on familial bonding.
Hence, this contract specifies that both the buyer and seller are bound legally to fulfill the mutually agreed upon obligations, with respect to the property. If any party does not fulfill their side of the bargain, then the defaulter can be taken to the court of law. This agreement also ensures that the buyer is fully aware of any restrictions on the property such as mortgages, regulatory issues, liens, etc.
The Important Parameters of the Conveyance Deed:
1. When drafting the deed it is critical to include all the relevant parameters as applicable to the property in question. The respective parameters have been listed below.
2. The demarcation of the boundaries of the property should be clearly defined.
3. Complete information of all the parties who should be included along with their personal information, such as name, age, etc., and the signatures of both the buyer and the seller.
4. The document should mention any other rights that may be annexed to the property.
5. It should include the chain of title. This means all the legal rights to the present seller.
6. It should state the method of delivery of the property to the buyer, and also memo of consideration; how the property was received.
7. Sales agreement and sales consideration clause should be specified in the deed.
8. It should also mention any other additional terms and conditions as applicable to the transfer of ownership rights.

Pitfalls in the Absence of Conveyance:
In the absence of this deed, the buyer, despite paying the full sales price, will not be deemed as the rightful owner of the property. Consequently, the buyer will not be allowed to carry out any renovation or reconstruction work, and there will also be this constant threat of the original owner reclaiming the property as her/his at a later date.