What is a Title Deed?

A legal document containing information on ownership, description, and boundaries. It outlines the process of how ownership is transferred or established. The title deed gives rights to access, sell, lease, or use the land for the property owner within the specified framework of the jurisdiction.

This type of document is registered with the government authority so that there is no disagreement between the seller and owner, or even to an extent, it acts as proof of the property’s recognition.

The title deed is also known as the Sales Deed, which establishes the fundamental rights and responsibilities of the property owner. It serves as a medium or a record of the authoritative property’s history or ownership lineage, so that relies upon peace of mind and ensures clarity amongst the parties involved.

What are the different types of Title Deeds?

There are various types of sale deeds, depending upon the nature of how the transaction was performed with a specific purpose. Here are some common title deeds that are commonly performed :

1. Absolute Sale Deed

This is the simplest form of the sales deed where the ownership of the seller is transferred to the buyer with no guidelines or restrictions, once implemented the buyer gains the rights over the possession.

2. Conditional Sale Deed

This is a special type of agreement between both the parties buyer and seller, where the ownership takes effect only when certain specific terms & conditions are met. When such a deed is performed, it needs to have a specific purpose such as a sale being contingent, or the buyer making a particular payment before getting the inheritance.

3. General Sale Deed

This type of sale deed involves a purchase of movable items such as vehicles or any other personal assets, rather than real estate. This serves as a transfer of ownership between both parties and the necessary information related to assets being sold.

4. Gift Deed

A donor to donee sale typically involves no monetary transaction. This is a voluntarily specified transaction acting as a gift, unlike a classic sale.

5. Partition Deed

A formalization of the division of the rights amongst the co-owners, which is more of a partition than a traditional sale. It involves a specific share within the buyers and it may involve a financial transaction if one party compensates the latter to buy a larger share.

6. Mortgage Deed

This type of sale deed is performed to acquire a loan against the property acting as a collateral, once the loan is fully repaid the title is reverted back to its owner.

7. Lease Sale Deed

This type of Sale deed is used to serve a leasehold interest in the matters of both the sale and ongoing lease. This informs the buyer of transferring the rights of ownership and the lease’s specific terms & conditions.