RAMAKANT MISHRA & ASSOCIATES
Sharad Mishra, Advocate
11 Years Exp
Exchange Deed (Show More)
Raipur , Raipur
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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 : Sharad Mishra, Advocate
Law Firm Name : RAMAKANT MISHRA & ASSOCIATES
Country : India
City : Raipur
State : CHATTISGARH
Practicing Since: 2014
About Your Firm : Ours is a law firm having its head office at Raipur and its branches at Durg and Bilaspur. We have more than years of experience in the legal field. We have advised and litigated for various individual clients, companies, private, public as well as statutory corporations, regarding a wide range of legal issues including (but not limited to):- • Arbitration and ADR; • Banking and Finance; • Civil Litigation; • Criminal Defense & Litigation; • Corporate Litigation; • Consumer Matters; • Constitutional & Administrative Matters; • Cyber and IT law; • Debt Recovery Laws; • Due Diligence; • Electricity Laws related matters; • Employment Laws; • Human Rights; • Intellectual Property; • Injury Compensation Laws; •Labour& Industrial Matters; • Matrimonial & Family Matters; • Property and Land Laws related matters; • RTI Laws; • Revenue Matters; • Tenancy Laws; • Trusts & Estates Related Litigations; • Other core areas of Law.
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Legal & Drafting
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