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
X
DISPUTES
X
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.