What Are The Different Types of Deeds In India

In India, several types of deeds are used to transfer ownership of a property. These legal documents serve as proof of ownership and are a crucial part of real estate transactions. The most common types of deeds include the Sale Deed, Gift Deed, Lease Deed, Will Deed, and Power of Attorney Deed. Each type of deed serves a specific purpose and has its own set of legal requirements, so it's important to understand the differences between them before making a real estate transaction. Whether you're buying, selling, gifting, leasing, or transferring power of attorney for a property, having a clear understanding of the different types of deeds in India will help ensure a smooth and successful transaction.

The only fundamental distinction between a deed and an agreement is that a deed must be in writing

Types of Deeds

1. Sale Deed

The seller grants the buyer ownership, title, and other property rights in a sale deed. It adequately documents the proof for both the buyer and the seller. The buyer and the seller must sign a sale deed for a real estate transaction to be valid. In addition, the terms and conditions must be accepted by all parties before a sale deed can be executed.

2. Mortgage Deed

A mortgage deed, an official document, contains all pertinent information regarding the loan, including the persons involved, the property used as security, the amount borrowed, the interest rate, and other details. The title and interest in the land are fully disclosed in the deed. It makes it easier to determine who owns the mortgaged property.

3. Lease Deed

A lease must be executed in accordance with a lease deed, a formal agreement. This document confirms the ownership rights and interests of the lessee in the leased property.

4. Gift Deed

A gift deed is a legal document that records the transfer of a gift. A gift deed may be used by the donor to freely transfer existing moveable or immovable property under Section 122 of the Transfer of Property Act 1822.

5. General Warranty Deed

General warranty deeds are used in residential real estate transactions. In a general warranty deed, the grantor assures that the property is free from any obligations and liabilities through several covenants, frequently referred to as warranties.

6. Special Warranty Deed

The amount of protection offered by a special warranty deed to the buyer is less than that of a regular warranty deed. Under this deed, the seller's or grantor's guarantee, made available to the purchaser or grantee, only applies to the period in which the grantor possessed the property.

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7. Adoption Deed

Through this deed, the adopted child inherits all of the rights, benefits, and obligations of a family member. It is a legal document that transfers filiation and all parental rights and obligations from biological parents to adoptive parents.

8. Court Order Deeds

Due to a court order, several deeds are executed without the owner's consent. When the seller cannot pay, these deeds are created and executed without their consent.

9. Fiduciary Deed

This fiduciary deed is used to transfer property when the grantor is a fiduciary, such as a trustee. This paper only provides evidence that the fiduciary is acting within his jurisdiction. This kind of deed is used to transfer property, such as real estate, when the owner is unable to sign a deed because of legal or other limitations.

10. Grant Deed

A grant deed is a formal agreement that exchanges real estate ownership for a predetermined quantity of money. It simply guarantees that the seller has full possession of the property and that it is debt-free.

11. Power of Attorney Deed

A Power of Attorney (POA) is a legal document that allows an individual (the principal) to appoint another person (the attorney-in-fact) to act on their behalf in legal and financial matters. The POA deed outlines the scope of the attorney-in-fact's authority and can be limited to specific tasks or broad in scope, covering multiple aspects of the principal's life.

12. Will Deed

A Will is a legal document that outlines how an individual's assets and property will be distributed after their death. The Will typically names an executor, who is responsible for carrying out the provisions of the Will, and may also include provisions for guardianship of minor children, gifts to charity, and the distribution of personal property.

13. Conveyance Deed

A Conveyance Deed, also known as a Deed of Conveyance, is a legal document that transfers ownership of a property from one person (the grantor) to another (the grantee). The Conveyance Deed outlines the terms of the transfer, including the description of the property, the consideration (payment) involved, and any restrictions or covenants associated with the property. A Conveyance Deed is an important document as it provides evidence of ownership of the property and helps to protect the rights of the new owner.

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Conclusion

The different types of deeds in India play a vital role in the real estate transaction process. Whether you are buying, selling, gifting, leasing, or transferring power of attorney for a property, understanding the different types of deeds is essential. It's important to choose the right type of deed to ensure a smooth and legal transfer of ownership.

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