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.
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 Rs 1,000 for each share of the property. Further, the registration fee will be Rs 500. More than one person may jointly own a property.