Kaagazaat

Owelty and Equalisation Agreement

At a glance

Price: ₹399 · GST included
Stamp duty: Punjab: Article 5 applies as drafted; exact denomination not confirmed. Chandigarh: Article 5 applies; exact denomination not confirmed.
Registration: Not compulsorily registrable as drafted because it does not alter title; a property charge or changed allotment requires separate section 17 analysis.
Witnesses: Both parties sign; no statutory attesting witnesses are required.

₹399

GST included

Launch period: downloads are free for now. The prices shown apply once payments open.

Guided questions, full draft on screen, download in Word.

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Also called

owelty agreement
partition equalisation agreement

Whether you can fill this in here

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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.

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Why you need it

When you need it

A partition allocated property of unequal value, and one co-sharer must pay money (owelty) to equalise it — kept distinct from the partition instrument unless deliberately merged into one deed. A monetary agreement following an existing partition/decree, NOT changing shares (Article 5, not Article 45/section 17, which govern an instrument that itself effects partition). State the source partition, valuations, payer, payee, due date, cure period, interest and security — an immovable-property charge needs its own stamped/registered instrument, not a hidden money clause.

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

Punjab: Article 5 applies as drafted; exact denomination not confirmed. Chandigarh: Article 5 applies; exact denomination not confirmed.

Registration

Not compulsorily registrable as drafted because it does not alter title; a property charge or changed allotment requires separate section 17 analysis.

Notarisation

Notarisation is not required.

Witnesses

Both parties sign; no statutory attesting witnesses are required.

Talk to a lawyer about this document₹3,539 including GST (₹2,999 + 18% GST), per documentRequest Stamp Paper

Sample preview — placeholder answers, not your data

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OWELTY AND EQUALISATION AGREEMENT

Instrument/application date: 3 April 2026

Party 1: X, X. Party 2: X, X. Other parties: X

Property: X; X. Regime: Punjab freehold/revenue-record property. Title source: X. Assessment value: ₹25,000 (Rupees Twenty Five Thousand only). Encumbrances: X.

EXISTING SHARES

Relationship: X. Existing shares: X.

DIVISION / ALLOTMENTS

Scope: Complete partition of the identified property. Party 1 allotment: X / X. Party 2 allotment: X / X. Other allotments: X

COMMON RIGHTS

Common access/easements retained as stated. Details: X.

POSSESSION

Separate possession delivered.

EQUALISATION

ENCUMBRANCES / DUES / DOCUMENTS

X. X. X.

AUTHORITY / FUTURE DEALING

Freehold property with no allotting-authority division permission. Future dealing: X.

INDEMNITY

DISPUTES

FILING

Filing/registration office: X.

PARTITION SOURCE

X, dated 2 April 2026. Party 1 value: X. Party 2 value: X.

OWELTY OBLIGATION

Amount: ₹25,000 (Rupees Twenty Five Thousand only). Payer: X. Payee: X. Due: 4 April 2026.

Questions about this document

Does the Owelty and Equalisation Agreement need stamp paper or stamp duty in Punjab and Chandigarh?

Punjab: Article 5 applies as drafted; exact denomination not confirmed. Chandigarh: Article 5 applies; exact denomination not confirmed.

Does the Owelty and Equalisation Agreement need registration in Punjab and Chandigarh?

Not compulsorily registrable as drafted because it does not alter title; a property charge or changed allotment requires separate section 17 analysis.

What does the Owelty and Equalisation Agreement cost on Kaagazaat?

₹399, GST included.

Launch period: downloads are free for now. The prices shown apply once payments open.

Does the Owelty and Equalisation Agreement need witnesses?

Both parties sign; no statutory attesting witnesses are required.

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