Party 1: __________, __________. Party 2: __________, __________.
EXISTING SHARES
DIVISION / ALLOTMENTS
COMMON RIGHTS
POSSESSION
EQUALISATION
ENCUMBRANCES / DUES / DOCUMENTS
AUTHORITY / FUTURE DEALING
INDEMNITY
DISPUTES
FILING
PARTITION SOURCE
OWELTY OBLIGATION
PAYMENT
SECURITY
LATE PAYMENT
TITLE EFFECT
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.
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.
Data minimisation: this document does not collect a full Aadhaar number, an Aadhaar-card copy, a password or bank credentials.