Kaagazaat

Co-ownership Agreement for a Pre-leased Property

At a glance

Price: Free, always.
Stamp duty: Stamp duty depends on what the document does.
Registration: Whether this agreement must be registered depends on whether it itself creates, declares, assigns, limits or ends a right in the property, or merely records rights the sale deed has already given.
Witnesses: Two witnesses are recommended, and the signature page has room for them.

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Free, always.

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Also called

Co-owners Agreement for Tenanted Property
Joint Ownership Agreement for Rented Commercial Property
Fractional Ownership Agreement for Pre-leased Asset
Investors Co-ownership Deed
Joint Owners Rent Sharing Agreement
Tenanted Property Co-owners Agreement
Saanjhi Malkiyat Ikrarnama
Sanjhe Malkan da Ikrarnama

When you need it

Two or three investors buy one tenanted shop, SCO, showroom or office together, because none of them wants to put the whole price into a single asset. The sale deed puts all their names on the title, but it says nothing about how they will live together as owners: who collects the rent, who pays the property tax, who decides whether to renew the lease, and what happens when one of them wants out or dies.

This agreement answers those questions in advance. It records that the investors own the property as tenants in common, each in a stated share, so that a share passes to a person's heirs and not to the other owners. It settles how the rent and the tenant's security deposit are received and divided, and how the costs are shared. It names one co-owner to deal with the tenant day to day, lists the decisions that need everybody's agreement, and gives the others a right of first refusal when one co-owner wants to sell. It also deals with death, with a defaulting co-owner, with tax records and with disputes, which go to a single arbitrator. It is for investors buying or already holding a tenanted property. It is written to go with a Rent-split Instruction Letter to the Tenant, which tells the tenant to pay each co-owner their own share, and with the due-diligence and sale documents used when buying the property. Not for co-owners of a property they live in or use themselves, not for a business run jointly for profit (that is a partnership), and not for co-ownership that arises only by inheritance with no tenant.

Whether you can fill this in here

You can fill this in here

You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

Fill this one in

See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

Stamp duty depends on what the document does. An agreement that only records shares the co-owners already hold under the sale deed, and how they will manage the property, is treated differently from one that itself gives or changes an interest in the property, and the duty and the article of the Indian Stamp Act, 1899 differ in Punjab and in Chandigarh. This form states no figure. Before signing, ask the Sub-Registrar or the advocate who is handling the purchase which duty applies and on what value, and use stamp paper of at least that value in the name of any one co-owner.

Registration

Whether this agreement must be registered depends on whether it itself creates, declares, assigns, limits or ends a right in the property, or merely records rights the sale deed has already given. The right of first refusal, the lock-in on selling a share and the exit terms are restrictions on how shares may be dealt with, so the safer course is to ask the advocate and, where in doubt, to register it at the Sub-Registrar's office of the tehsil in Punjab or at the Sub-Registrar in Chandigarh. A registered agreement is also better evidence against a later buyer of a share or a lender. Every co-owner attends or is represented by an attorney authenticated for the purpose.

Notarisation

Not required for the agreement to bind the co-owners. A notary's attestation does not replace stamping or registration, though some banks ask for it.

Witnesses

Two witnesses are recommended, and the signature page has room for them. If the agreement is registered, the Sub-Registrar will ask for witnesses who are known to the office or who bring identity papers; in Chandigarh the first witness must be known to the Sub-Registrar.

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Sample preview — placeholder answers, not your data

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CO-OWNERSHIP AGREEMENT
FOR A PRE-LEASED PROPERTY

This Co-ownership Agreement (this "Agreement") is made at Chandigarh on 1 April 2026.

BETWEEN

Harpreet Singh Gill, of House 14, Sector 8, Chandigarh, PAN ABCPG1234D;

Manpreet Kaur Gill, of House 21, Sector 15, Chandigarh, PAN BCDPK5678E;

Gurdeep Singh Sandhu, of House 5, Phase 3B1, Mohali, PAN CDEPS9012F

(each a "Co-owner" and together the "Co-owners").

RECITALS

A. The Co-owners together own Ground and first floor of a corner SCO at SCO 42, Sector 34-A, Chandigarh 160022 (the "Property") under a registered sale deed dated 12 October 2026 executed by the previous owner in favour of the Co-owners together.

B. The Property is let to Northline Retail Private Limited (the "Tenant") under Lease Deed dated 4 April 2022 (the "Lease"), at a present rent of ₹1,85,000 (Rupees One Lakh Eighty Five Thousand only) a month, and the Tenant has given a security deposit of ₹11,10,000 (Rupees Eleven Lakh Ten Thousand only) (the "Deposit").

C. The Property stands on a site allotted by a development authority of the State of Punjab and remains subject to the conditions of that allotment. The Co-owners shall comply with those conditions and shall obtain any permission the authority requires before any transfer of a share.

D. The Co-owners wish to record how they hold the Property, how the rent and costs are shared, how it is managed, and what happens if one of them wishes to leave or dies.

THE CO-OWNERS AGREE AS FOLLOWS.

1. THE PROPERTY AND THE LEASE

1.1 The Co-owners hold the Property, the Lease and the Deposit together and in the shares set out in clause 2. This Agreement governs only the relations between the Co-owners. It does not change the Lease or any right of the Tenant under it.

1.2 The Co-owners shall comply with the Lease as lessors and shall not do anything that would put the Lease or the Tenant's rent at risk.

2. SHARES

2.1 The Co-owners own the Property, and are entitled to the rent and every other receipt from it, in the following shares:

(a) Harpreet Singh Gill: 50%;
(b) Manpreet Kaur Gill: 30%;

2.2 The Co-owners hold as tenants in common, each in their own share, and not as joint tenants. A Co-owner's share does not pass to the other Co-owners on death; it passes to that Co-owner's heirs or legatees, who are bound by this Agreement as clause 12 provides.

2.3 The shares add up to the whole of the Property. Each Co-owner bears the costs, and receives the income, of the Property in the proportion of their share, and no Co-owner may claim a different proportion unless all agree in writing.

3. RENT

3.1 The Tenant shall pay the rent to the joint bank account of the Co-owners described in clause 3.3, and the Managing Co-owner shall pay each Co-owner their share from it.

Questions about this document

Does the Co-ownership Agreement for a Pre-leased Property need stamp paper or stamp duty in Punjab and Chandigarh?

Stamp duty depends on what the document does.

See the full position on stamp duty, registration and witnesses

Does the Co-ownership Agreement for a Pre-leased Property need registration in Punjab and Chandigarh?

Whether this agreement must be registered depends on whether it itself creates, declares, assigns, limits or ends a right in the property, or merely records rights the sale deed has already given.

See the full position on stamp duty, registration and witnesses

What does the Co-ownership Agreement for a Pre-leased Property cost on Kaagazaat?

Free, always.

Does the Co-ownership Agreement for a Pre-leased Property need witnesses?

Two witnesses are recommended, and the signature page has room for them.

See the full position on stamp duty, registration and witnesses

Often needed with this document

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