partition of property

Anoop Kumar (Querist) 23 February 2014 This query is : Resolved
We are 3 brothers having ancestral residence want partition mutually.

Please provide complete details like

i) Documentation required

ii)expected expenses incurred on the procedure

iii) Expected time involved in complete process

Please guide me through this...

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prabhakar singh (Expert) 23 February 2014
When all of you are agreeing to partition then get it partitioned ORALLY according to terms agreed and raise partition walls differentiating separately every share and thereafter get a MEMORANDUM DEED prepared,which does not require partition.

If you propose to partition by a deed in writing the deed must be registered and that would involve costs as stamp duty and registration fees.

Anoop Kumar (Querist) 23 February 2014
does it have validity in case we have partitioned orally, when any one of them wants to mortgage to the bank. will consent of others require...

prabhakar singh (Expert) 23 February 2014
GOOD! VERY GOOD SMART!
Get it documented by a memorandum as told and notarized,for further confirmation of memorandum deed of partition let one of you file a suit of injunction against others and get the same decreed by compromise.

BUT I DISLIKE those people WHO OVER SMARTS US.

Rajendra K Goyal (Expert) 24 February 2014
Agree with the advice of expert prabhakar singh ji.

T. Kalaiselvan, Advocate (Expert) 25 February 2014
For all that matter and future benefits, it is always better to make partition deed in writing, get it registered by paying the appropriate stamp duty in order to avoid related problems in the future.

R.V.RAO (Expert) 25 February 2014
yes.agree with the view to go for partition deed,and get it registered.

ajay sethi (Expert) 25 February 2014
contact a local lawyer .

get memorandum prepared recording the distribution

Dr J C Vashista (Expert) 02 March 2014
Partiition the property by meets and bounds and get it decreed through Suit for partition.

prabhakar singh (Expert) 02 March 2014
The route i suggested is most economical and unchangeable.Not saying that others are wrong.

prabhakar singh (Expert) 02 March 2014
To save on duty in agreed cases is neither SIN nor illegality.

Anoop Kumar (Querist) 04 March 2014
and what is expected time involved in the process...?

Anoop Kumar (Querist) 04 March 2014
and what is expected time involved in the process. if there is consensus..?

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