I am a new member to this blog, I request to all the respected member to give an guidance and suggestion, (If a piece of land is jointly bought by 28 individuals from a jaminder in 1975 in delhi followed by registering the sale deed. There was a partition deed executed among the 28 members wherein the piece of land was equally divided among the 28 members whose names were mentioned in the registered sale deed under their mutual consent, which was notorised. I would like to know whether that partion deed needs to be registered in order to avail a loan on one of the property.
Yes, A memorandum oral partition recording a past transaction need not be registered. A partition deed effecting partition in the deed itself required registration but the stamp duty is nominal and amounts to Rs. 200 to Rs. 1000 per share, depending on its location and nature of land. It is better to register a partition deed as it gives notice of the partition to everyone and the title is better protected.
As it is evident from your post the property happens to be the Agricultural property (brought from Zamindar in 1975) as such kindly refer to the Jamabandi of the same from the revenue records which itself shall substantiate the share of the co owners on year to year basis based on which the transfer of title can be ascetained and yes positively the bank loan can be availed. In any eventuality if you need a loan the bank in any case is going to have search report of the property done.
I would like to know that 'A' has a house and house site, he wants to distribute the same among his three children i.e.B, C,& D Accordingly he wrote a partition deed in their favour . whether the Registration for the same is compursory. If so how much of stamp duty is payble? Now "D" wants to avail a Loan from the bank. Can he /she?