Deemed Conveyance is the transfer of right, title & interest of the land/building in the name of the Housing Society.
As per 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.
A conveyance deed is a process to acquire ownership of the land with the consent of the Developer.
Under Section 10 of the Maharashtra Ownership Flats Act, 1963 the Promoters/Developers are required to form a society within 4 months from the date on which a minimum number of persons required to form such organization have taken premises/flats.
As per the Maharashtra State Cooperative Society Act, 1960 it is the duty of the Builder/Developer to form society & hand over the Account & Documents to Provisional Working Committee (PWC).
Society Formation deals in two ways, with the consent of the Builder & without the consent of the Builder e., Flat purchasers can apply for registration of Cooperative Housing Society under Non-cooperation.