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- PARTITION DEED
Description
Partition Deed
This is a "Readymade Format for Partition Deed ".
Legally required caluses are already in agreement Format in addition to, if is required, then you can add or remove the conditions.
A Partition Deed is a legal document that is used to divide a piece of property among multiple owners or co-owners. This document is used when co-owners of a property (such as siblings or business partners) wish to divide the property among themselves, typically happens when the co-owners no longer wish to own the property together or one of the co-owner wants to separate the property.
The partition deed will typically include details such as the description of the property, the names of the co-owners, the terms of the partition (such as the specific portions of the property that will be allocated to each co-owner), and any agreements or conditions related to the partition.
A partition deed is executed after the agreement among the co-owners and it is registered in the office of the Sub-Registrar of Assurances.
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What is a partition deed?
A partition deed is a legal document that includes the rights and shares of an owner. After filling out the specific partition deed format the owner is entitled to sell, gift, or transfer the ownership of a property to any other person. Most of the time this property partition deed is made when a property is owned co-jointly and is under the distribution process. When the family property is divided some scenarios might be observed:
- Partition with mutual consent: In this type of family partition deed all the property owners mutually decide to divide the property. They do it calmly by visiting a local registrar’s office. After placing the successful partition deed owners can also sell their share under this sale deed without partition.
- Partition deed without mutual consent: In this deed of partition template there is no mutual agreement, and you must bring a lawsuit to the court. After the settling of the case in the court you should get a partition deed format registered on stamp paper where all the details of each property owner are mentioned.
- Family partition deed in the case of inherited property: In case the property is inherited then all the co-owners can inherit and transfer the property. To avoid future family conflicts, they must have a property partition deed in place.
- Partition deed of family disputes over property: If a property becomes a family dispute then a legal procedure is required for a deed of partition template. In this case, you must file a lawsuit. After the resolution of all issues, you must get the partition deed between siblings.
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What are the documents required for a property partition deed?
To get a family partition deed in place, the required documents are:-
- Preliminary document and passport-size photographs of co-owners
- Document handling charges and partition deed format PDF
- Land revenue Records and transferred property map
How this family partition deed is useful for the partners?
- Aprop erty partition deed is required to avoid clashes between the co-owners of a property.
- It is a great idea to go through a deed of partition sample before moving further to avoid any disagreements between the family members.
- It is better to get a partition deed format registered so every co-owner is aware of their rights and shares of the property.
- When all the owners of the property give consent for a family partition deed, they need to follow the partition deed registration process.
- After the successful registration of the partition deed, all the co-owners can make some decisions regarding their shares.