
Pranav Law Firm
M g vishnu
23 Years Exp
Exchange Deed (Show More)
Coimbatore , R.S.Puram East
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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 : M g vishnu
Law Firm Name : Pranav Law Firm
Country : India
City : Coimbatore
State : TAMIL NADU
Practicing Since: 2002
About Your Firm : Our Pranav Law Firm was established by Lr.M.G.Vishnu who is the Chief Advocate, Here into this service from 2002. Our purpose since our set up has been to offer a proactive, responsive and hassle free legal services to Indians and overseas Indians. He is a motivated, dedicated and an experienced lawyer working with the target of making our law firm as one of the best law firm in India. Our law firm has earned a good will of Local and International circles. The firm has its head office at Coimbatore and Related Workplaces in significant state capitals. The firm additionally has a working association with numerous worldwide law firms. Since its beginning, it continues to serve a different clientele, including domestic and overseas corporations, multinational companies and individuals.
Sr Employee Associated | Sr Employee Enrollment/Reg.No | Sr Employee Enrollment/Reg.State |
---|---|---|
M G Vishnu | 1728/2002 | Coimbatore Bar Association, Tamilnadu |
Jr Employee Associated | Jr Employee Enrollment/Reg.No | Jr Employee Enrollment/Reg.State |
Kavitha | 303/2003 | Coimbatore Bar Association, Tamilnadu |
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