HPSHF-LEGAL
N.P.S.HIRA
11 Years Exp
Exchange Deed (Show More)
Amritsar , Amritsar G.P.O.
View Answers by this Partner (0)
Profile Views : 27220
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 : N.P.S.HIRA
Law Firm Name : HPSHF-LEGAL
Country : India
City : Amritsar
State : PUNJAB
Practicing Since: 2014
About Your Firm : A qualified lawyer having work experience in the key areas of legal /corporate I am open to work in new dimensions and areas of Law. I appear at almost all District Courts in punjab,Tribunals, punjab and haryana high court chd, and courts in Delhi. I also undertake drafting/ vetting of agreements, deeds and other documents and their subsequent registration before the concerned authorities. I have arrangements with my colleagues who also work in association. consisting of: •Handles general and corporate litigation, 138 N I Act matters, recoveries, bails and quashing matters •Litigation (Corporate, Civil & Complaint matters) – well versed with laws and court procedures. •Due-diligence (commercial and legal). •Legal research and analytical evaluation. •Advisory (Legal/Corporate/Business)/Industrial relation/employees issues. •Documentation - Drafting of all kinds of Corporate/Commercial documents and agreements/understanding.
| Sr Employee Associated | Sr Employee Enrollment/Reg.No | Sr Employee Enrollment/Reg.State |
|---|---|---|
| Jr Employee Associated | Jr Employee Enrollment/Reg.No | Jr Employee Enrollment/Reg.State |
Legal & Drafting
NRI Services
No Answers Found
