
S & P LAW ASSOCIATES
Stalin Simion Selvamani
19 Years Exp
Exchange Deed (Show More)
Chennai , Pallavaram
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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 : Stalin Simion Selvamani
Law Firm Name : S & P LAW ASSOCIATES
Country : India
City : Chennai
State : TAMIL NADU
Practicing Since: 2006
About Your Firm : S & P LAW ASSOCIATES is one of the top law firm in Chennai, Tamil Nadu is having more than 7 years of experience in the legal industry. S & P LAW ASSOCIATES is a reputed law firm from Chennai with certain specialization in law such as Property Laws, Corporate Law, Trade Mark, Rent Control Laws, Litigation and Any . Our team consists of experienced and highly skilled professionals practicing in different courts such as All Courts in Chennai . We focus in rendering high quality and timely service to all our clients. We understand the problem and situation of our clients and provide a customized solution for each client by maintaining confidentiality, commitment, and dedication in our work. Our aim is to achieve the highest standard in industry at effective cost. We continuously update our knowledge and skill base in the laws to provide the client with the best possible results and provide best service to all clients who approach us.
Manpower/Employee Details
Sr Employee Associated | Sr Employee Enrollment/Reg.No | Sr Employee Enrollment/Reg.State |
---|---|---|
STALIN SELVAMANI | 546 OF 2006 | BAR COUNCIL OF TAMIL NADU & PUDUCHERRY |
Jr Employee Associated | Jr Employee Enrollment/Reg.No | Jr Employee Enrollment/Reg.State |
RAVIKUMAR | BAR COUNCIL OF TAMIL NADU & PUDUCHERRY |
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