Conveyance Deed

The term Conveyance Deed means the instrument by which the ownership rights are transferred from one person to another. Generally, the Government transfers its ownership rights through a Conveyance deed. "Sale deed" and "Conveyance deed" are at times used interchangeably. All Sale deeds are Conveyance deeds because they are related to sales of property; however, Conveyance deeds may also include gift, exchange, mortgage, and lease deeds, among other things. Hence, all conveyance deeds are not sale deeds.

General Power of Attorney

General Power of Attorney is a document by which the general/specific powers are assigned to the person in whose favour the GPA is assigned.

Generally, through GPA powers such as power to lease, pay taxes, bills, charges, to enter into any agreement, appear before any government body, sub-registrar office, to carry out any alteration, repair etc., are assigned to another person.

Specific Power of Attorney Signing

A Power of Attorney by which only limited power is assigned to a person, specific to carry out certain task in relation to the property, say getting the property converted from leasehold to freehold or getting the lease deed registered specific to the particular tenant.

Will

A WILL is a legal document that encapsulates wish of a person(testator) as to how their property both movable as well as immovable property is to be distributed after their death and also which person shall be managing the property till it is finally distributed. A WILL should clearly mention which portion or part of property shall devolve on which child. The common area, parking space as earmarked for each child should be carefully mentioned in the WILL to avoid future disputes.

It should also mention who would be taking care of the living parent.

WILL is not a compulsorily registrable document, however to avoid future claims regarding authenticity of will it is advisable to get it registered in the jurisdictional Sub-registrar’s office.

Relinquishment Deed

Relinquishment Deed is a document by which a person relinquishes(surrender) his legitimate right /share in the property. Relinquishment deed is made in favour of the other co-owner of the property, it cannot be made in favour of any third party.

Relinquish deed is compulsorily registrable document which is registered in the office of the Sub-registrar office.

Lease Deed

Lease deed is an instrument by which certain right to enjoy the property for the specific period are transferred from the owner (lessor) to the lessee. Lease deed defines the rights, and interests accorded to it by the lessor.

The lease deed generally contains names of the lessor and lessee, date and duration of lease, description of property, Lease rental amount, maintenance amount, payment of monthly electricity, water etc charges, subletting, list of fixtures in the property, dispute resolution, renewal.

It is always advisable to register the Lease deed so that both lessors and lessees can enforce their rights, if need be.

Gift Deed

If you wish to transfer your property to the near and dear ones, the best way to do is through the Gift deed. A gift deed is therefore a legal instrument for transferring moveable and immoveable property by one relative to another. The property transferred by way of a Gift deed is voluntary and without any consideration. A gift deed is required to be registered like a Sale deed after payment of appropriate stamp duty.