SARAVANA

 SARAVANAKUMAR

 15 Years Exp

 Exchange Deed (Show More)

 Coimbatore , CBE Mpl.Central Busstand

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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.


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Name : SARAVANAKUMAR

Law Firm Name : SARAVANA

Country : India

City : Coimbatore

State : TAMIL NADU

Practicing Since: 2010

About Your Firm : We handling legal opinions and vetting of documents

Manpower/Employee Details

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

 

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Subject :  Cost of rental agreement
Question :  What is the total cost of rental agreement including stamp paper for rental in Hebbal apartment and how much time to send

Answer by SARAVANA :  If the period of rent agreement is less than 1 year, the agreement need not be registered and typed on a twenty rupees stamp paper and the period of rent agreement is more than 1 year, the registration and stamp charges are calculated on the basis of advance amount as per the concerned state registration fees rules.