To eliminate the information asymmetry that existed in the real estate sector and to ensure that the sector maintains the strong growth, the incumbent government had brought in the necessary legislation.
Possession or the physical transfer of the property is often considered as the final step while purchasing a property, but it is not sufficient. You also need to have legal evidence of ownership.
Conveyance refers to the act of transferring the title, ownership, rights and interests in a property, from one entity to another. It is a binding contract that is enforceable in a court of law.
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