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Partition Deed

{For division of property between two or more persons}

1180

A partition deed is a written document by which a property held jointly by several persons is divided among them so that each person gets a share and becomes the owner of the share allotted to him/ her. Each transferee gets the title to his/ her share in the property and becomes its absolute owner. The transferee can then further deal with the property in any manner as he/ she may desire. It can sell, transfer, exchange or gift the property as its absolute owner. Partition deed is normally executed to divide family business, residential/ commercial property and ancestral property etc. Property held on an individual basis can also be subject to Partition. It is mandatory to register a Partition deed in respect of immovable property.

 

When is Partition deed required?

A Partition Deed is required in following instances-

  • for division of jointly/ individually owned property
  • to make parties absolute owner of share allotted to them
  • conclusive proof regarding title of property

 

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Registration of Partition Deed

A Partition Deed for division of immovable property through which an interest is created is mandatorily required to be registered. It will attract stamp duty as per the stamp laws in respective state. In case it is not registered, the partition will be bad in law i.e. partition deed will not be recognized under law and transferee(s) will not have any title to the property.

Note :-

  • Draft template will be provided in soft copy
  • Extra charges will apply for customized document