We have a big house which has a partition deed (5 brother's and sister's), but that is not registered in court. It is mutually agreed upon with some court stamp on it.
My first question : Is the registration of the partition deed MANDATORY when we want to sell the house?
We want to sell the house. The buyer has come up with a proposal to save his stamp duty and some registration fees. His suggestion is : They want to make 5 deed of conveyance (since there are 5 parties), divide the property equally with the distribution of the money according to the partition deed. So there would be 5 deed of conveyance where we each of us (5 of us) would be required to sign.
One point to be noted is that the partion was not equally made, but it was agreed mutually. The money distribution when the house will be sold will also be proportionately. However,
My second question is : Since this partition deed was not registered, the buyer is saying that the property is still "Undivided", is this true?
My third question is: Is it legal to have 5 deed of conveyance for a single property, just by diving the property on papers stating "undivided 1/5th portion" of the house in each sale deed?
Can any lawyer please reply to my query very URGENTLY please?
Thanks.
