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WHY DEEMED CONVYEANCE ?


 

Deemed Conveyance is necessary in situations where the process of regular conveyance has been delayed or obstructed, leaving residents of housing societies or cooperative housing societies without legal ownership of their individual units. There are several reasons why deemed conveyance is required:

1.     Delayed or non-cooperation from developers: In many cases, developers or promoters fail to complete the process of conveyance, which involves transferring the ownership of the land and building to the society and its members. This delay or non-cooperation can leave residents in a state of uncertainty, as they do not have legal ownership of their properties.

2.     Protection of residents' rights: Deemed conveyance protects the rights and interests of residents who have invested their hard-earned money in housing societies. It ensures that they have legal recognition and ownership of their properties, providing them with security and stability.

3.     Elimination of disputes and complications: In the absence of proper conveyance, disputes may arise over ownership, maintenance, and transfer of properties within the society. Deemed conveyance helps resolve such disputes by providing legal clarity and establishing a clear chain of ownership.

4.     Facilitation of redevelopment and financing: Deemed conveyance is often required for redevelopment projects or securing loans for the maintenance or improvement of the society. Without legal ownership, it becomes challenging to undertake redevelopment or obtain financial assistance.

5.     Empowerment of society members: Deemed conveyance allows society members to take control of the management and governance of their properties. It enables them to collectively make decisions regarding maintenance, improvements, and other important matters.

6.     Promotion of transparency and accountability: Deemed conveyance promotes transparency and accountability in the functioning of housing societies. It ensures that the society operates within the legal framework, with proper documentation and adherence to statutory requirements.

Overall, deemed conveyance is necessary to rectify the deficiencies in the regular conveyance process and protect the rights of residents in housing societies. It provides them with legal ownership, resolves disputes, and facilitates smooth functioning and development of the society

 

ADV LEENA KAULGEKAR

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