Partition Deed Clauses
A partition deed for a property is executed to divide the property among different people – usually among the family members.
The following are some of the important clauses that need to be included in the Partition Deed:
1. Stating the terms and conditions between the parties.
2. Terms and conditions upon which the partition between the joint owners of the property is going to take place.
3. Proportion of each joint owner defining the area in the property being inherited by the joint owner
4. All the relevant terms and conditions (if any) based on which the partition Is going to take place.
5. Any provision for buying out the share of the joint owner who is giving up his/her share in the property.
6. It needs to be printed on a judicial / e-stamp paper of the correct value and signed by all the parties.