Creating a property partition deed involves the division of property among co-owners. In India, the partition of property is governed by the Partition Act, 1893, and the Registration Act, 1908. It is important to follow the legal procedure to ensure the validity and legality of the partition deed. Here are the steps to create a property partition deed in India :
Mutual Agreement :
All co-owners need to mutually agree to partition the property. This can be done through a deed of family settlement or mutual agreement.
Drafting the Deed :
The partition deed should contain details such as the names of the co-owners, description of the property being partitioned, the share of each co-owner, and any other terms and conditions agreed upon.
Registration :
The partition deed must be registered with the Sub-Registrar of Assurances under the provisions of the Registration Act, 1908. All co-owners must sign the deed in the presence of at least two witnesses.
Payment of Stamp Duty :
Stamp duty must be paid on the partition deed as per the relevant Stamp Duty Act of the state where the property is located.
Execution :
Once the deed is registered, each co-owner will hold their respective share of the property as per the terms of the partition deed. If there is a dispute among co-owners regarding the partition of property, legal remedies can be sought under the Partition Act, 1893. The partition suit can be filed in the civil court having jurisdiction over the property. It is advisable to consult with a legal expert or a property lawyer to ensure that the partition deed is drafted correctly and all legal formalities are complied with.