Reddy & Associates

 CHINNAPA REDDY

 25 Years Exp

 Partition Deed (Show More)

 Hyderabad , Musheerabad (Delivery)

 View Answers by this Partner (0)

 Profile Views : 366993

Information

Overview

A partition deed for a property is executed to divide the property among different people usually among the family members. A partition is a division of a property held jointly by several persons, so that each person gets a share and becomes the owner of the share allotted to him. It is done by dividing the property according to the shares to which each of the parties is entitled to in law as applicable to them. Each divided property gets a new title and each sharer gives up his interest in the property in favour of other sharers. Therefore, partition is a combination of surrender and transfer of certain rights in the estate except those which are easement in nature. The transferee can then further deal with the property in any manner as he may so desire. He can sell, transfer, exchange, or gift the property as its absolute owner. In case a partition is by mutual consent, a partition deed is executed by the co-owners. The partition deed is required to be registered at the office of the sub-registrar of the place where the property is situated as in case of any other registration. The stamp duty payable in such a case is 2% of the value of the property partitioned, which is calculated as per the circle rate of the area.

More than one person may jointly own a property. All such persons will have either equal or certain percentage of the rights to possess and use the property. One important ingredient of co-ownership is undivided share. Though all the owners own equal or a part of the whole property, their respective shares are not physically ascertainable with definitive boundaries. The shares are undivided. The shares of co-owners of a property need not necessarily be equal. It depends on their investment in the property as detailed in the purchase document. In the absence of any such details as to the share of investments made for acquisition of the property in the purchase document, it is presumed in law, that all the co owners have equal undivided share of interest, right and title in the property.

A co-owner’s share in a property is inheritable and transferable. The share of investment of each co-owner in the property and the undivided share in right, interest, and title of the property should be clearly and explicitly identified. This helps avoid problems in transfer, alienation, inheritance and taxation. In case the co-owners are not agreeable to a partition a property and only one or more of the co-owners want the property to be partitioned, the mode of partition is a bit different. In such a case, a partition suit is required to be filed in the appropriate court of law.

A partition deed should be executed on a stamp paper and drafted in a clear and unambiguous manner. The share of each person should be clearly and explicitly specified. A partition deed creates new owners of a property and needs to be registered at the office of the sub-registrar to give it a legal and binding effect. The deed should in particular mention the date from which the partition is effective. The names of the parties and their respective shares should be specifically mentioned.

Partition of property is also subject to the laws of inheritance applicable to a particular person. Different laws can apply. An interest in a concessionary property can also be Willed away. This share goes out of the purview of ancestral property. If a father dies leaving behind self-acquired property, his son will inherit it absolutely. The grandson cannot claim it as ancestral because it was inherited under the Hindu Succession Act.


Can't read the image? click here to refresh.

Enter the code :

Name : CHINNAPA REDDY

Law Firm Name : Reddy & Associates

Country : India

City : Hyderabad

State : TELANGANA

Practicing Since: 2000

About Your Firm : Practicing since 2000 in the office of P.Venugopal, The then Advocate General for the state of A.P in civil matters, Writ Jurisdiction, Consumer Forum, State & Centrel Administrative Tribunal, Worked as Legal Manager for Reliance group, Worker as Legal Manager in Suchirindia Pvt Ltd. Expert in Due diligence Reports, Search Reports, Drafting, Vetting of documents, Legal Opinions, etc,.

Manpower/Employee Details

Sr Employee Associated Sr Employee Enrollment/Reg.No Sr Employee Enrollment/Reg.State
P.Venugopal Ap
Jr Employee Associated Jr Employee Enrollment/Reg.No Jr Employee Enrollment/Reg.State

 

  Legal Opinion/Title Certification ( Apartment/Builder Floor )
  Legal Opinion/Title Certification ( Residential Layout )
  Power of Attorneys ( Drafting Special Power of Attorney )
  Legal Opinion/Title Certification ( Villa Project )
  Legal Opinion/Title Certification ( Commercial complex )
  Power of Attorneys ( Drafting General Power of Attorney )

 Legal & Drafting

  Agreements/Deeds ( Construction Agreement Review )
  Property & Documents Inspection ( Plot/Site Insepction )
  Procure Revenue Documents ( Encumbrance Certificate )
  Procure Revenue Documents ( Certified copy of registered GPA/SPA )
  Registration Assistance ( Villas )
  Legal Opinion (Written) ( Villas )
  Utility/Property Payments ( Property Tax Payment )
  Lease/Rental Agreements ( Room Rental Agreement )
  Agreements/Deeds ( Rectification Deed )
  Property & Documents Inspection ( House/Apartment Inspection )
  Procure Revenue Documents ( Khata Extract )
  Procure Revenue Documents ( Certified copy of registered documents )
  Registration Assistance ( Independent House )
  Legal Opinion (Written) ( Independent House )
  Utility/Property Payments ( Electricity Bill Payment )
  Lease/Rental Agreements ( Office Sharing Agreement )
  Agreements/Deeds ( Relinquishment deed )
  Property & Documents Inspection ( Documents Inspection in Govt Office )
  Procure Revenue Documents ( Khata Certificate )
  Procure Revenue Documents ( Other Revenue Documents )
  Registration Assistance ( Agriculture Land )
  Legal Opinion (Written) ( Agriculture Land )
  Utility/Property Payments ( Water Bill Payment )
  Lease/Rental Agreements ( Car Parking Agreement )
  Agreements/Deeds ( Mortgage Deed )
  Property & Documents Inspection ( Documents Inspection in Builder Office )
  Procure Revenue Documents ( Khata Transfer )
  Power of Attorneys ( General Power of Attorney )
  Registration Assistance ( Commercial Property )
  Legal Opinion (Written) ( Commercial Property )
  Affidavits ( Name & Address Affidavits )
  Lease/Rental Agreements ( Settlement Of Rental Agreement )
  Agreements/Deeds ( Exchange Deed )
  Property & Documents Inspection ( Agriculture Land Inspection )
  Procure Revenue Documents ( Mother Deed Extract )
  Power of Attorneys ( Special Power of Attorney )
  Registration Assistance ( Revenue/Other Site )
  Legal Opinion (Written) ( Revenue/Other Site )
  Affidavits ( Personal Affidavits )
  Lease/Rental Agreements ( Paying Guest Agreement )
  Agreements/Deeds ( Release Deed )
  Property & Documents Inspection ( Industrial / Commercial Inspection )
  Procure Revenue Documents ( Copy of Grant Certificate )
  Power of Attorneys ( Revoke/cancel Power of Attorney )
  Lease/Rental Agreements ( Apartment Rental Agreement )
  Packages ( Legal Opinion to Registration (Plot/Site) )
  Agreements/Deeds ( Agreement of Sale )
  Affidavits ( Student Affidavits )
  Lease/Rental Agreements ( Leave And Licence )
  Procure Revenue Documents ( Pahani/RTC )
  Agreements/Deeds ( Partition Deed )
  Construction Approvals ( Residential )
  Lease/Rental Agreements ( House Rental agreement )
  Packages ( Sale Agreement to Registration (Plot/Site) )
  Agreements/Deeds ( Construction Agreement )
  Affidavits ( Passport Affidavits )
  Lease/Rental Agreements ( NOC From Landlord )
  Procure Revenue Documents ( Mutation )
  Agreements/Deeds ( Memorandum of Understanding )
  Construction Approvals ( Commercial )
  Lease/Rental Agreements ( Commercial Office Rental Agreement )
  Packages ( Sale Agreement to Registration (Apartment) )
  Agreements/Deeds ( Sale deed )
  Affidavits ( Gas Affidavits )
  Lease/Rental Agreements ( Other Lease/Rental Agreements )
  Procure Revenue Documents ( Electricity Bill Name Transfer )
  Agreements/Deeds ( Joint Development Agreement )
  Wills ( Make A will )
  Lease/Rental Agreements ( Commercial Shop Rental Agreement )
  Packages ( Legal Opinion to Registration (Apartment) )
  Agreements/Deeds ( Gift Deed )
  Affidavits ( General Affidavits )
  Consultation on Property ( Property Buying )
  Procure Revenue Documents ( Duplicate/Certified copy of sale deed )
  Registration Assistance ( Plot )
  Legal Opinion (Written) ( Plots )
  Wills ( Make A Codicil )
  Lease/Rental Agreements ( Commercial Lease Agreement )
  Agreements/Deeds ( Sale Agreement/Deed Review )
  Affidavits ( Other Affidavits )
  Consultation on Property ( Property Selling )
  Procure Revenue Documents ( Certified copy of revenue document )
  Registration Assistance ( Apartment )
  Legal Opinion (Written) ( Apartment )
  Notary & Attestation Services ( Get A Document Notarised )
  Lease/Rental Agreements ( Residential Lease Agreement )

 NRI Services

  Property Disputes ( Illegal occupation of Land and Property )
  Landlord Tenant Disputes ( Landlord Tenant Disputes )
  Property Search ( Land And Property Search )
  Propert Transfer ( Land and Property Transfer )
  Property Partition ( Partition of Land And Property )
  Property Disputes ( Illegal Sale of Land And Property )
  Property Disputes ( Illegal Transfer of Land And Property )

No Answers Found