Introduction
A partition deed is a legal document executed during the division of joint property. It describes the specific terms of partition and includes details of how the property will be divided between the parties involved. Having partition deeds is crucial to avoid any future disputes or disagreements regarding ownership rights.
Table of Contents
- What is Partition Deed?
- Contents of Partition Deed
- Documents Required for Partition Deed
- How to Register Property Partition Deed?
- Stamp Duty on Property Partition Deed
Families often use a partition deed to divide members’ shares in inherited assets. Without partition deeds, there may be confusion or dispute over ownership rights and responsibilities. This document acts as a legally binding contract, ensuring that all parties are clear on their respective shares of the property.
What is Partition Deed?
Partition deeds are considered important documents in India for the fair distribution of jointly owned properties. The Indian Registration Act of 1908 provides legal clarity and prevents disputes. Understanding this document is critical to navigating property division in India.
The deed is a legal document that divides jointly owned property between shareholders based on their respective ownership percentages. This document helps clarify each shareholder’s rights and responsibilities regarding the property and avoids potential disputes in the future.
It also describes the process of selling or transferring ownership of the property and ensures that all parties are aware of the relevant procedures. A partition deed provides for clarification of each shareholder’s share in the property and authorization for future reference.
Contents of Partition Deed
A partition deed generally includes details about the property being partitioned, the names of the co-owners involved, their respective shares, and any specific terms or conditions agreed upon. The deed may also outline the process for dividing the property, including any necessary surveys or appraisals to determine its fair value.
- Date of property partition
- Declaration of separation
- Name, age, and address of joint owners
- Description of their share
- Signatures of joint owners
- Names and signatures of witnesses
Documents Required for Partition Deed
The documents required to execute a partition of property deeds usually include the original property deeds and proof of the identity of all parties involved. Having these documents readily available helps to streamline the process and execute the partition deeds smoothly. The following documents are required to execute the partition deeds:
- Original title document
- Land records
- Land map
- Property value
- Registration fee
- Stamp duty
- Identity cards of all parties
- Address proof of all parties
- PAN card
How to Register Property Partition Deed?
The partition deeds registration process is mandatory. Registration of partition deeds has many advantages. However, the process is similar in most states. For example, Openplot shows you the process of registering a partition deeds in Delhi:
- Visit the Delhi Online Registration Information System (DORIS) official website.
- On the homepage, you click on the ‘Deed Writer’ option.
- From the available options, select the ‘Partition Deeds’ option.
- From the sub-deeds option, select ‘Partition Deeds.’
- You must provide the second party’s mobile number and the property’s value.
- To start the partition deeds registration process, you must follow a detailed process to provide first-party, second-party, and witness details.
Also read: 4 Different Types of Property Ownership Transfer Deeds
Stamp Duty on Property Partition Deed
To get legal validity, the partition deeds must be registered with the sub-registrar of the area where the immovable property is located. This is mandatory under Section 17 of the Indian Registration Act of 1908. The parties involved in the partition had to pay stamp duty charges (as per the provisions of the Indian Stamp Act, 1899) and registration charges to register the partition deeds.
Stamp duty charges on partition documents vary from state to state and also from region to region. For example, in Delhi, 2% of the value of the alienated share of the property is payable as stamp duty on the partition deeds. Registration of Partition Deeds in Maharashtra is subject to a fixed rate of 1% registration charge. (However, co-owners are not required to file a partition deeds with the state.)
Also read: Stamp Duty in Major Cities of India in 2024
Conclusion
The importance of partition deeds in property division cannot be overstated. They serve as a legal document detailing the equitable distribution of assets between the co-owners, ensuring clarity and avoiding future disputes. The provisions mentioned in the partition deeds should be carefully reviewed and understood before signing to avoid any potential conflicts.
Also read: Lease Deed: Things to Know Before Leasing a Property