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Conveyance

Ankit0

Conveyance refers to the process of transferring ownership or possession of property from one party to another. It involves the following key elements:

1. Transferor: The party who owns the property and is transferring it to another.

2. Transferee: The party who receives ownership or possession of the property.

3. Property: The tangible asset that is being transferred.

4. Deed: The legal document that records the transfer of ownership or possession.

Types of Conveyance:

  • Grant Deed: A deed that conveys land from one owner to another.
  • Quit Claim Deed: A deed that releases any claim of ownership or possession of land.
  • Substitute Conveyance: A deed that transfers ownership or possession of land from a third party to the transferee.
  • Bill of Sale: A document that transfers ownership of personal property.
  • Transfer of Shares: A document that transfers ownership of shares in a company.

Procedure of Conveyance:

  1. Preparation: The transferor and transferee prepare the deed and other necessary documents.
  2. Signing: The deed is signed by the transferor and transferee in the presence of witnesses.
  3. Recording: The deed is recorded in the public records.
  4. Delivery: The deed is delivered to the transferee.

Legal Considerations:

  • The deed must be in writing and signed by all parties involved.
  • The deed must be witnessed by two or more witnesses.
  • The deed must be recorded in the appropriate public records.
  • The transferee must be of legal age and sound mind.
  • The transferor must have clear title to the property.

Additional Factors:

  • Conveyance fees may be paid to the notary or other officials.
  • Taxes may be payable on the transfer of property.
  • The conveyance process can vary depending on the jurisdiction.
  • It is recommended to seek legal advice during the conveyance process to ensure that the transaction is legally binding.

FAQs

  1. What are the means of conveyance?

    Means of conveyance refer to the various methods or vehicles used for transporting people or goods, such as cars, buses, trains, ships, and airplanes.

  2. What is an example of a conveyance?

    An example of conveyance is a car used for commuting, or a legal document transferring ownership of property.

  3. What do you mean by conveyancing?

    Conveyancing is the legal process of transferring ownership of property from one person to another.

  4. What is conveyance in transport?

    In transport, conveyance refers to the vehicle or method used to move people or goods from one location to another.

  5. What is a conveyance in a job?

    In a job, conveyance refers to the allowance or reimbursement provided by an employer for commuting or travel expenses.

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