Partition is division of a joint property among several co-owners, so that each person gets a share and becomes the exclusive owner of the share allotted to him. It is generally affected by dividing a property according to the shares to which each of the parties is entitled. Partition allows the family members to claim their share and divide the property which was previously enjoyed as a whole.
Methods of the Partition:-
- Partition by mutual agreement– partition of the property by mutual agreement can be done by Partition Deed or Family Settlement.
- Partition Deed-Partition Deed divides the property between the co-owners of the property. This deed is prepared in order to divide the property so that each person gets an absolute title over his own part of the property. This does not mean that the property would be equally divided. The division is according to the law.The partition deed is required to be executed on a stamp paper of proper value and registered with the office of the sub-registrar of the place where the property is situated as in case of any other registration.
- Family Settlement- The property can also be divided by family settlement where the family does not want the Court to be involved; they go for the negotiations and settle the matter. The family settlement deed need not be on stamp paper or be registered. Also, it need not be written but it must be with the complete satisfaction of all the co-owners.
- Partition through Court-Before filing a partition suit in court a legal notice must be served to all the co-owners specifying their interest in the property, their share, and the action to be taken and try to settle the dispute. Even after this, if the dispute is not settled, then a civil suit is filed before the Court.
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