Kagaznama

Owelty and Equalisation Agreement

At a glance

Price: Free
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.

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

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Also called

owelty agreement
partition equalisation agreement

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.

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

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.

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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.

PAYMENT

Structure: Single payment. Schedule: X.

SECURITY

Personal contractual promise only.

LATE PAYMENT

Interest-free cure period then agreed interest. Rate: 25,000% p.a. Cure: 25,000 days. Remedy: X.

TITLE EFFECT

Agreement only equalises values and does not alter partitioned property rights.

LEGAL BASIS

Punjab: This template is a monetary equalisation agreement and is expressly drafted not to create or alter title. Article 5 applies; exact fixed denomination not confirmed. If the writing changes allotments or creates a property charge, a separate partition/security instrument must be stamped and registered.

Chandigarh: The same non-operative title structure is used. Article 5 applies; exact denomination not confirmed. The underlying partition/decree is what must be reflected in the Estate Office file for sector property.

PERSONAL DATA NOTICE

This notice is given under the Digital Personal Data Protection Act, 2023.

The purpose of collecting personal data in this owelty agreement is to identify the parties to the completed partition and administer the monetary payment used to equalise unequal allotment values.

The record will be held by Kagaznama and may be shared with the parties, court/Sub-Registrar/revenue or Estate authority, surveyor, lender and advocates as needed for the stated partition process.

If the matter does not proceed, the personal data will be retained for 90 days and then erased. If the matter proceeds, the record will be retained for the matter plus 12 months, except where a statute requires a longer named retention period.

A person named in this document may request correction or erasure where the purpose has ended, withdraw consent for future consent-based processing, or raise a grievance by writing to privacy@example.com. The record-holder should acknowledge and reply within 30 days.

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.

See the full position on stamp duty, registration and witnesses

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.

See the full position on stamp duty, registration and witnesses

What does the Owelty and Equalisation Agreement cost on Kagaznama?

Free.

Documents are free. Only kits are paid.

Does the Owelty and Equalisation Agreement need witnesses?

Both parties sign; no statutory attesting witnesses are required.

See the full position on stamp duty, registration and witnesses

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