
Hemanth & Associates
Hemanth S
23 Years Exp
Exchange Deed (Show More)
Bangalore , Malleswaram
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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 : Hemanth S
Law Firm Name : Hemanth & Associates
Country : India
City : Bangalore
State : KARNATAKA
Practicing Since: 2002
About Your Firm : A thorough understanding of the Property and Real Estate sector and vast experience in dealing with corporations, organizations and individuals gives our team the expertise to advise clients on various aspects of property transactions in India and particularly in Bangalore.??We advise clients and prepare legal documentation for the purchase, sale, lease, rent, mortgage, development, joint venture, construction and in all transactions related to the properties including commercial, industrial, agricultural and residential. We also advise client on the applicable local laws, stamp duties, registration requirements and regulatory and statutory approvals.??Our real estate and property service includes: Due diligence for property purchase Title search Title opinion on property/documentation Legal scrutiny Legal documentation Registration Formation of societies and welfare associations Regulatory and Statutory compliance's We have rich experience in property and real estate litigation. Our property and real estate litigation matters include: Title disputes Landlord and Tenant disputes Attachment of property Disputes under specific performance and transfer of property laws Partition and division of property Land use regulations Land acquisition and dispositions
Sr Employee Associated | Sr Employee Enrollment/Reg.No | Sr Employee Enrollment/Reg.State |
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Hemanth | kar/1527/2002 | |
Jr Employee Associated | Jr Employee Enrollment/Reg.No | Jr Employee Enrollment/Reg.State |
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