What is partition deed and complete information about partition deed?

Introduction of Partition Deed?

People in India mostly live together as joint families and their properties are joint and this partition deed is used to share it with each other without any problem. This partition deed is known as Partition deed. Disputes between owners can arise due to joint property and you can create a partition deed to deal with this problem.

A part title document is not significant unless it is a written document that clearly clarifies the shares and rights of each owner separately. If you are not satisfied with the deed, you can file a lawsuit.

In this article, we will discuss why a share deed is required, the process for registering a share deed and the documents required for a share deed.

What is partition Deed?

A Partation deed is a legal document that classifies the owner’s shares and rights. Once deeded, an owner has the right to sell, gift or transfer ownership of the property to another person. Mostly, if the property is joint in the family then the partition deed is done as per below procedure. Observe the following procedures while dividing the property.

The property Separation by mutual consent:

If all the property owners mutually decide to partition the property, they can go to the local registrar’s office and do it quietly. Once the deed is executed, all the owners become the real owners of their share of the property.

The property Separation without mutual consent:

If there is no mutual agreement, you will have to file a case in court. Once the court case is settled, you need to file a partition deed with all the details of each owner. and also you must register the stamp paper.

In case of hereditary property :

If it is an inherited property, all co-owners can inherit and transfer the property. To avoid conflicts in the future, you should have a partition deed.

Partition in family disputes over property :

A legal procedure is required if the division of property turns into a family dispute. A lawsuit must be filed in court. Once the case is settled in court, each . You need to file a partition deed between siblings.

What is Distribution of Property under Hindu Law?

According to the Hindu Succession Act, 1956, partition of a property means that if the owner dies, his children will share the property equally or if a will is written, it will be partitioned accordingly. Also, all of them have equal rights to divide the property on the basis of heirs. The word partition deed that I am referring to hereafter refers to the partition deed.

Why is Property Partition deed required?

A partition deed is required to avoid disputes between co-owners of a property. It is advisable to register the partition deed, When all the co-owners approve the partition deed, you have to follow the partition deed registration process. Once done, all co-owners can make the same decisions regarding their shares. If there is no mutual consent, you can file a lawsuit in court.

Things to keep in mind while registering partition deed?

To register a partition deed, follow these steps:-

• According to Section 17 of the Indian Registration Act, the deed must be registered in the office of the Sub-Registrar in the same area as the immovable property.
• Some states have websites for that. The partition deed can be registered online.
• Fill the partition deed.
• Submit all required documents.
• Pay registration fees and stamp duty as per the Stamp Duty Act, 1899.
• Stamp duties range from 2% – 3% of the total asset value of the partitioned share.
• If you have registered the bond online, you can download the receipt after payment.

How to register partition deed?

Here are some simple steps you need to follow to register a partition deed:

Step 1: Go to online service of Government Online Registration Information System.

Step 2: Click on the ‘Deed Writer’ option available on the home page.

Step 3: Next, select the ‘Partition Deed’ option.

Step 4: Again, select ‘Partition Deed’ as the subsidiary deed option.

Step 5: Next, you need to provide the required details of the first and second party to continue the registration process.

Step 6: Also provide details of property valuation.

Step 7: Pay e-stamp duty and registration fees. Once done, book an online appointment to visit the registrar’s office to register the partition deed.

Documents required for partition deed?

To get a share deed, you will need the following documents:-

1. Prior deed document.
2. Passport size photographs of co-owners.
3. E-Challan Fee / Registration Fee.
4. Stamp duty, document handling fee.
5. Land Revenue Records.
6. Altered property map.
7. All Parties Photo Identity Cards- Aadhaar Card, Ration Card.
8. PAN card is mandatory for value above 5 lakhs.

What if a suit is filed for partition deed?

According to law, a property must be partitioned through a partition deed. If you and your co-owner mutually decide on a partition, you will need to register a partition deed. Otherwise, you will have to file a lawsuit and summon post serve your other co-owner with a demand for partition.

When you cannot separate by mutual consent, a case is filed. A partition case is filed to obtain a partition deed through the courts. Once you file a case for partition, the aggrieved party, if they want to contest the case, has to approach the court immediately.

Income tax on partation deed?

There is no transaction involved in getting a partiition deed, which means you don’t have to pay any tax on it. After dividing the property, a beneficiary does not need to pay bond tax, but capital gains tax accrues depending on the type of property.

Do you need to register a partition deed?

Section 17 of the Indian Registration Act, 1908 makes it mandatory to register your partition deed. The deed can be registered by paying a stamp duty of Rs. Remember that unregistered deeds cannot be used as evidence for any purpose.

How is property divided between co-owners?

The property is divided equally among all the co-owners. However, if there is any other legal basis, it can be done accordingly. If it is hereditary property, it is done according to the law of inheritance applicable to their religion.

Is there a difference between partition deed and partition case?

A partition deed is a legal document made by mutual consent, whereas a partition suit is made when a suit is filed to effect partition.

Can the partition deed be challenged?

Yes, if you are not satisfied with the partition, you can challenge the partition deed in court. Remember that there must be a valid reason to challenge in court.

Is an oral partition deed legal?

A verbal sharing agreement is acceptable only if a memorandum of understanding is signed between the partners.

Who writes the partition deed?

You, yourself, can write a partition deed; However, to avoid mistakes, you should hire a document advocate.