Adv Nimesh L Gore
Adv Nimesh L Gore
15 Years Exp
Exchange Deed (Show More)
Beed , Ambajogai
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Overview
As per provisions contains in Section 118 of Transfer of Property Act, when two persons mutually transfer the ownership of one thing for the ownership of another, neither thing or both the things being money only, such a transaction is called an exchange. This definition is not restricted to immovable property only.
Thus, exchange implies, when two separate property owners mutually agree to transfer the ownership rights by exchanging the property. Further, exchange also means exchange of lands and barter of goods too.
If one of the items that has been transferred in money, then it is not an exchange but sale, because sale should always be for a price. But money in one form can be exchanged for money in another.
In case of exchange, the transfer of ownership of one thing is not the price paid or promised to pay, but something else in lieu. For example: if a person transfers a land valued Rs.20,00,000/- to another and in return, the other person transfers a shop valued Rs.18,00,000/- and pay Rs.2,00,000/- in cash, it is an exchange.
This type of exchange transactions can be reduced into writing in the form of Property Exchange Deed. This Exchange Deed document for transfer of property rights need to be registered with the jurisdictional sub Registrar’s Office by paying prescribed stamp duty. While drafting the exchange deed and its registration including the document execution, its presentation and admission utmost care need to be taken, since this is a complex process.
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Name : Adv Nimesh L Gore
Law Firm Name : Adv Nimesh L Gore
Country : India
City : Beed
State : MAHARASHTRA
Practicing Since: 2010
About Your Firm : I am individual legal practitioner in Ambajogai district and sessions court and also at Parbhani district and sessions court since 2010 basically in Civil section. I have also empaneled with various local banks, NBFC's etc. and used to deliver title investigation report for the landed properties to be mortgaged with banks for securing their financial assistance. I also used to draft various deeds, agreements as per requirement of client and helps in registering them in registration office. I also have qualified assisting staff in order to provide prompt services to my client.
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Legal & Drafting
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