Voluntary Conveyance

calender iconUpdated on June 25, 2024
home ownership
personal finance

A voluntary conveyance is a transfer of land ownership that is initiated by the owner of the land and is made with the owner’s consent. It is typically accomplished through a deed, which is a legal document that formally records the transfer of ownership.

Key Elements of Voluntary Conveyance:

  • Owner’s Consent: The landowner must voluntarily consent to the conveyance.
  • Transfer of Ownership: The landowner transfers ownership of the land to a buyer.
  • Deed: A deed is the legal document that records the transfer of ownership.
  • Acceptance: The buyer accepts the transfer of ownership and becomes the new owner.
  • Considerations: Any payments or other considerations exchanged between the seller and buyer, such as money, land, or improvements.

Types of Voluntary Conveyances:

  • Grant Deed: A deed that conveys a specific parcel of land to a buyer.
  • Quitclaim Deed: A deed that releases any claims or liens on a parcel of land.
  • Partition Deed: A deed that divides a parcel of land into smaller parcels and conveys each parcel to a different owner.
  • Donation: A transfer of land ownership as a gift to a recipient.
  • Consent: The owner must have the legal capacity to convey the land and must freely consent to the transfer.
  • Form: The deed must conform to the required legal form for the jurisdiction.
  • Witnesses: In some jurisdictions, the deed must be witnessed by two or more witnesses.
  • Recording: The deed must be recorded in the public records to create a binding transfer of ownership.

Example:

John owns a piece of land. He decides to sell it to Mary for $100,000. John creates a deed and has it witnessed by two witnesses. He then records the deed in the public records. Mary becomes the new owner of the land.

Note: The specific legal requirements for voluntary conveyance may vary depending on the jurisdiction. It is always advisable to consult with an attorney to ensure compliance with local laws.

FAQ's

What is the meaning of voluntary conveyance in law?

arrow down icon

A voluntary conveyance is the transfer of property or assets from one person to another without receiving anything of value in return, often as a gift or through a trust. It typically occurs without pressure or obligation and is initiated by the property owner.

What is the legal definition of conveyance?

arrow down icon

What does conveyance mean in a deed?

arrow down icon

What is an example of conveyance?

arrow down icon

What is a voluntary transfer?

arrow down icon

Categories

Pocketful Fintech Capital Private Limited (CIN U65999DL2021PTC390548):

The SEBI Registration No. allotted to us is INZ000313732.
NSE Member Code: 90326| BSE Member Code: 6808| MCX Member Code: 57120
DP CDSL: 12099800

Compliance Officer : Mr. Randhir Kumar Chaudhari
Tel no: 011- 49022222 / 011-49022277
Email: randhir@pocketful.in

Registered Address/Correspondence Address: C- 3, Ground Floor, Okhla Industrial Area, Phase - 1, New Delhi - 110020

For any complaints, drop us an email atlegal@pocketful.in

Procedure to file a complaint on SEBI SCORES: Register on SCORES portal. Mandatory details for filing complaints on SCORES: Name, PAN, Address, Mobile Number, E-mail ID.

Smart Online Dispute Resolution|Link To Circular|Procedures and Policies|Broker Investor Charter|DP Investor Charter

Benefits: Effective Communication, Speedy redressal of the grievances.

Benefits: Effective Communication, Speedy redressal of the grievances.

Please ensure you carefully read the Risk Disclosure Document as prescribed by SEBI and our Terms of Use and Privacy Policy.
The brand name Pocketful and logo is in process of trademarks registration. The cost-effective brokerage plans make Pocketful a trustworthy and reliable online stock broker. Available on both the web and mobile, it offers unmatched convenience to traders. If you are considering opening......

Read More