A partition deed is a legal document that divides joint family property among co-owners/coparceners, giving each person independent ownership of their allocated share.
Partition Deed Format
PARTITION DEED
This Partition Deed is made at [City] on this [Day] day of [Month], [Year].
AMONG
1. [Party 1 Name], [Father's Name], resident of [Address]
2. [Party 2 Name], [Father's Name], resident of [Address]
3. [Party 3 Name], [Father's Name], resident of [Address]
(hereinafter collectively called the "CO-OWNERS")
WHEREAS the co-owners are the absolute owners of the schedule property. AND WHEREAS the co-owners have mutually agreed to divide the property by metes and bounds.
NOW THIS DEED WITNESSETH:
1. The schedule property shall be divided as follows:
- Share of Party 1: [Description of allocated property]
- Share of Party 2: [Description of allocated property]
- Share of Party 3: [Description of allocated property]
2. Each party shall have absolute ownership of their allocated share.
3. Each party shall bear proportionate stamp duty and registration charges.
4. All parties shall sign necessary documents for mutation/transfer.
IN WITNESS WHEREOF, the parties have signed.
SCHEDULE OF PROPERTY: [Description of joint property]