What Is Deemed Conveyance?
In simple legal terminology, the deemed conveyance meaning can be explained as the transfer of right, title, and interest of the land or building in the name of the housing society. In the regular conveyance, the Promoters (construction builder, landowner, or developer) willingly or voluntarily give the conveyance. The standard conveyance deed has to be executed between the promoters and the housing society. Still, it has been noticed in many of the cases that the builders or landowners are not ready and willing to execute the deed. In such instances, the Maharashtra Government has given the right to the Competent Authority under the MOFA deemed conveyance (Maharashtra Ownership Flat Act) to sign the conveyance deed on behalf of landowners and developers. This is called Deemed Conveyance.
Deemed Conveyance is an Amendment under sub-section (3) of section 11 of the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management, and Transfer) Act, 1963.
Deemed Conveyance is the transfer of right, title & interest of the land/building in the name of the Housing Society.
MOFA Act (Maharashtra Ownership Flats Act,1963), Maharashtra Government has given the right to the Competent Authority to sign the ‘Conveyance Deed’ on behalf of Land Owners & Developers.