Release deed or partition deed

Partition deed is more appropriate. Partition deed is a legal document that classifies the shares and rights of an owner. Once the deed is made, it means that an owner is entitled to sell, gift, or transfer the property ownership to any other person. Mostly, the partition deed is made when a property is under distribution process and is owned co-jointly.

Divide the property by executing registered partition deed, by partition  you will become absolute owner of your 50% share in property and can sell,mortgage ,gift or transfer your share to anyone as per your wish.

It would be proper to partition the property amicably among themselves with proper demarcation and the conditions thereon so that each shareholder can have separate possession of their respective share in the property which will include the share in the land underneath the structure and rights in the other common areas.

The partition deed drawn may be executed by a registered document and each shareholder can have one original document each.

I endorse the advise of experts, partition of property (by meets and bounds or through Court, as agreed by both of you) would be a better option.

I thank you all for  your for your valuable advise.