Menon and Singh, Advocates and Solicitors
Parvathi Menon
11 Years Exp
Exchange Deed (Show More)
New Delhi , New Delhi G.P.O.
View Answers by this Partner (1)
Profile Views : 3160
Information
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.
Photos
Name : Parvathi Menon
Law Firm Name : Menon and Singh, Advocates and Solicitors
Country : India
City : New Delhi
State : DELHI
Practicing Since: 2014
About Your Firm : Menon & Singh law office is a full-service law office founded by Ms. Annapurna and Ms. Parvathi Menon. With a team of young professionals, the firm strives to not only to comprehend the grievances of its clients and provide efficient and cost effective solutions to them, but at the same time it also renders its support in assisting them to achieve their goals. The firm leaves no stone unturned to overturn the nadir of its clients into their zenith.  "Out of the box thinking" is the key phrase that guides the team in their quest to find remedy to the complex legal quandaries that loom at large before its clients. The firm provides a beautiful blend of conventional wisdom and novel ideas while dealing with the cases.  The firm understands that many a times when a client visits them, they may have undergone severe mental distress. Menon & Singh Law Office takes great pride in providing counselling services to its clients as it understands that mental peace is one of the most valued objective of mankind. The firm understands that the best results are the product of a partnership, so we work with each client to develop and execute custom-built plans designed to maximize success. ? ? ?   ?    ? ? ?
| Sr Employee Associated | Sr Employee Enrollment/Reg.No | Sr Employee Enrollment/Reg.State |
|---|---|---|
| parvathi | D/1837/2014 | New Delhi |
| Jr Employee Associated | Jr Employee Enrollment/Reg.No | Jr Employee Enrollment/Reg.State |
| Annapurna | D/5043/2017 | New Delhi |
