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rozario john
Rozario John
27 Years Exp
Exchange Deed (Show More)
Pune , Dhanori
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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 : Rozario John
Law Firm Name : rozario john
Country : India
City : Pune
State : MAHARASHTRA
Practicing Since: 1998
About Your Firm : I am dealing exclusively with conveyancing of property and providing end to end solution to ensure safe transfer of property takes place in the best possible manner
| Sr Employee Associated | Sr Employee Enrollment/Reg.No | Sr Employee Enrollment/Reg.State |
|---|---|---|
| Rozario John | MAH/927/1998 | The Bar Council of Maharashtra and Goa |
| Jr Employee Associated | Jr Employee Enrollment/Reg.No | Jr Employee Enrollment/Reg.State |
Packages ( Villa Project )
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Subject : Property Fraud
Question : I purchased 3 non-NA plots from a seller on the condition that he will NA those plots in next 3 months. After 3 months, he started making reasons that the land has some problems. He asked us to wait for some time. Now Its been 7 years and he is giving me the same reason. I requested him to at least pay the money back but he is unnecessarily delaying that for the past 1 year. The seller is neither interested in giving me the plots nor the money back. How can I file a case against that fraudulent seller? Or what could be the best way to recover my money?
Answer by rozario john : file a police complaint for fraud, cheating at the earliest, also if you know other plot buyers, contact them and make them also file complaints against the person
