Land and Building is conveyed in favour of Co-Operative Society and the title The right of Co-operative Housing Society and the Duty of the propertyĭeveloper/Promoter to be executed within 4 months from date of Registration of As per the provisionĬontemplated in Section 11 of Maharashtra Ownership Flat Act 1963, Conveyance is Housing society by execution of Conveyance Deed. trading in, cancelling and pledging shares and the issuing of depositary receipts for shares.Is transfer the title of land and building by promoter/land owner in favour of.business succession and the merger, splitting and transfer of companies.the amendment of articles of association.Notaries and deputy (civil law) notaries play a role in: The task of notaries and deputy (civil law) notaries in this area of the law is to arrange for and advise on the incorporation of legal persons such as private and public companies and the establishment of cooperatives, associations and foundations as well as partnerships. it has also become possible recently for notaries and deputy (civil law) notary to be involved in the arrangements for a divorce.winding up estates: in the event of a death the notary or deputy (civil law) notary advises the heirs on the possibilities for accepting or refusing an inheritance he also arranges for the capital and possessions of the deceased to be divided among the heirs in accordance with the will.gifts: recording certain gifts in a notarial act can offer benefits for the donor and the obtainer, but it’s not compulsary. marriage contracts (prenuptial agreements) or life partnership conditions: couples who marry or conclude a registered partnership may agree that certain possessions (income, goods and capital) and debts should be kept separate.guardianship: parents record who will be responsible for looking after their children if anything should happen to them.wills: in their will clients indicate who will inherit what on their death.Generally speaking, the role of notaries and deputy (civil law) notaries in these areas of the law relates to the following subjects: In addition to the purchase and sale of immovable property, notaries and deputy (civil law) notaries also arrange foreclosure sales by public auction and make the formal arrangements for splitting ownership of a building (for example, where a house is divided up into a number of flats). mortgage deeds recording that a property serves as collateral for a mortgage provided by a bank.However the buyer becomes entitled to call himself the owner of the property only when the deed of transfer of title has been entered in the land register and other public registers. deeds of transfer/conveyance of title the buyer, seller and notary sign the deed of transfer of title (the contents of the deed are taken from the contract of sale and purchase) at the notary’s office, after which the keys are handed over.contracts of sale and purchase setting out the terms agreed between the buyer and seller about price, date and any conditions subsequent it should be noted that the seller and buyer can themselves draw up this contract or arrange for their estate agent (realtor) to do this.He guides the seller and buyer and ensures that all agreements are formally recorded. The notary or deputy (civil law) notary is the hub of the entire process. Furthermore, the purchase price of the property must be transferred from one bank to another without complications. However, the seller will be willing to transfer title to the property concerned only if he is certain of getting his money. Banks will only agree to a mortgage once a person has become the actual owner of the house or flat. The purchase and sale of immovable property (also known as real estate or real property) is a complex process. Private law as dealt with by notaries and deputy (civil law) notaries can also be divided into the following areas. natural persons (individuals) and legal persons. Private law involves legal relations between persons, i.e. Notaries and deputy (civil law) notaries deal with matters of private law (also referred to as civil law).
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