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-