The Bright Law Associates
Advocate SURJYA KUMAR BORAH
13 Years Exp
Exchange Deed (Show More)
Lakhimpur , North Lakhimpur
View Answers by this Partner (0)
Profile Views : 33322
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 : Advocate SURJYA KUMAR BORAH
Law Firm Name : The Bright Law Associates
Country : India
City : Lakhimpur
State : ASSAM
Practicing Since: 2012
About Your Firm : The Bright Law Associates is one of the leading law firms in India. The Bright Law Associates enjoys the distinction of being service presence in Assam and North East States.Assam,Nagaland,Mizoram,Arunachal Pradesh ,Tripura,Meghalaya,Manipur & Sikkim.
| Sr Employee Associated | Sr Employee Enrollment/Reg.No | Sr Employee Enrollment/Reg.State |
|---|---|---|
| Adv SURJYA KUMAR BORAH | 607/2012 | The Bar Council Of Assam,Nagaland,Mizoram,Arunachal Pradesh & Sikkim |
| Jr Employee Associated | Jr Employee Enrollment/Reg.No | Jr Employee Enrollment/Reg.State |
Legal & Drafting
NRI Services
No Answers Found
