Partition means: The process by which jointly held property, along with associated rights and interests therein are divided into shares to which each party gets exclusively entitled to.
Following are the commonly used ways to achieve Partition
| Terms | Remarks |
|---|---|
| Partition deed | A partition deed is a legal document that divides the jointly held property according to the respective shares of the co- owners. This deed can be executed through registration in the office of the registrar/sub-registrar of the place where the property is situated. |
| Family settlement agreement | The difference between a family settlement agreement and a partition deed is that while a partition deed necessarily requires stamp duty and registration, a family settlement agreement doesn’t necessarily require so. |
| Through Partition suit | A partition suit is a proceeding instituted in a competent court for the purpose of dividing the jointly held property by legal means. |
