Meaning : A Partition Deed legally divides jointly owned property into definite shares, giving each co-owner exclusive ownership and possession of their respective portion.
Step-by-step Practical Process for Redevelopment of Society:
- Nature: A Partition Deed is a legal instrument that divides jointly owned property into defined and separate shares.
- Severance of Joint Status: Converts joint ownership into individual ownership.
- Mode: Can be mutual (consensual) or through court decree.
- Property Description: Must clearly specify each share with boundaries/area.
- Possession: Each party receives exclusive possession of their allotted portion.
- Final & Binding: Once executed and registered, it is conclusive and irrevocable.
Applicability of a Partition Deed
A Partition Deed is applicable when:
- Property is jointly owned (ancestral or jointly purchased).
- Co-owners wish to separate their shares amicably.
- Common scenarios:
- Partition of ancestral / Hindu Undivided Family (HUF) property.
- Siblings or heirs dividing inherited property.
- Joint purchasers seeking defined ownership.
- Applicable to:
- - Appointment of guardians for minor children
- - Residential property
- - Commercial property
- - Land / plots
Requirements for a Valid Partition Deed
A. Legal Requirements
- All parties must be co-owners.
- Free consent of all parties.
- Clear identification of shares and allocation.
- Property must be capable of division (physically or by valuation).
B. Documentation
- Title deeds / chain of title.
- Proof of co-ownership (Will, legal heirship, succession documents).
- Property card / 7-12 extract / CTS extract.
- Approved layout / floor plan (if applicable).
- PAN cards.
- Society NOC / share certificate (for flats).
B. Registration & Stamp Duty
- Compulsory registration under the Registration Act, 1908.
- Stamp duty paid as per State law.
- Execution before Sub-Registrar of Assurances.
- Two witnesses required.