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DHANANJAY SRIVASTAVA
20 Years Exp
Exchange Deed (Show More)
Lucknow , Ghazipur (Lucknow)
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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 : DHANANJAY SRIVASTAVA
Law Firm Name : no firm
Country : India
City : Lucknow
State : UTTAR PRADESH
Practicing Since: 2005
About Your Firm : I am an individual Advocate in the High Court of Lucknow since 2005 and member of Oudh Bar Association. The objective of my carrier is to provide fair and expeditious legal service to the clients while representing them in courts by utilizing my knowledge, skills and hard work. AREA OF PRACTICE LITIGATION Service and Education Matters, Civil & Criminal matters, Consumer matters, Matrimonial matters, Corporate and Commercial Matters, Banking & Insurance, Arbitration/ Mediation , Revenue matters etc. I have been consistently providing professional, accurate and efficient legal advice, support and assistance to individuals as well as organizations in the High court of Lucknow and other / forums/commissions tribunals.Also serving as a Standing Counsel of U.P.State Bridge Corporation and empanelled lawyer in U.P.Rajkiya Nirman Nigam. NON-LITIGATION Drafting assorted Agreements and Contracts, Memorandums and other documentation including Memorandum of Understanding, Articles of Association, Joint Venture Agreements and Amendments, Employer-Employee Agreements, Tripartite Agreements, Principal-Agent Agreements, Special Power of Attorneys, Notices, Deed of Conveyance, Leave and License Agreements, Intellectual Property Contracts and other services including Registration of Trademarks, Copyrights and Patents etc.
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