Non judicial bond agreement

Hello Deepak Ujjain,

Your query is not very clear as to whom you wish to surrender.  Did you mean to surrender to your other co-owner/s or to an outsider or taking loan from bank/ non-banking organisation or from a private lender.

A partition deed of a property on non-judicial does not always give licence to any financial transaction by hypothecation of the property right.  It should be not only demarked the portion on the paper, the property has to be apportion in literary terms like no common access to property, separate entrance separate private areas like bathroom, kitchen and living areas without interference of the co-owners of the property.

Moreover, this partition deed has to registered with municipal corporation/local authority and electricity board so that you get separate water meter electric meter and you get separate property tax bill.  If these things are taken care of you can deal with the property either for sale or loan.