Kachwala Misar & Co.
Rakesh
18 Years Exp
Exchange Deed (Show More)
Mumbai , Kalbadevi
View Answers by this Partner (5)
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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 : Rakesh
Law Firm Name : Kachwala Misar & Co.
Country : India
City : Mumbai
State : MAHARASHTRA
Practicing Since: 2007
About Your Firm : We are a solicitor firm having practice domain of Arbitration, Civil, RERA, NCLT, property, Testamentary, Society, Revenue, drafting, documentation and Conveyancing.
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Agreements/Deeds(Bulk) ( Agreement of Sale with GPA & Possession )
Agreements/Deeds(Bulk) ( Sale Deed )
Power of Attorneys ( Drafting General Power of Attorney )
Power of Attorneys ( Drafting Special Power of Attorney )
Legal Opinion/Title Certification ( Apartment/Builder Floor )
Legal Opinion/Title Certification ( Residential Layout )
Legal Opinion/Title Certification ( Villa Project )
Legal Opinion/Title Certification ( Commercial complex )
Agreements/Deeds(Bulk) ( Memorandum of Understanding )
Agreements/Deeds(Bulk) ( Joint Development Agreement )
Agreements/Deeds(Bulk) ( Agreement of Sale )
Legal & Drafting
Legal Opinion (Written) ( Plots )
Power of Attorneys ( Revoke/cancel Power of Attorney )
Agreements/Deeds ( Exchange Deed )
Lease/Rental Agreements ( Commercial Office Rental Agreement )
Legal Opinion (Written) ( Apartment )
Wills ( Make A will )
Agreements/Deeds ( Release Deed )
Lease/Rental Agreements ( Commercial Shop Rental Agreement )
Legal Opinion (Written) ( Villas )
Wills ( Make A Codicil )
Agreements/Deeds ( Partition Deed )
Lease/Rental Agreements ( Commercial Lease Agreement )
Legal Opinion (Written) ( Independent House )
Notary & Attestation Services ( Get A Document Notarised )
Agreements/Deeds ( Memorandum of Understanding )
Lease/Rental Agreements ( Residential Lease Agreement )
Affidavits ( Personal Affidavits )
Legal Opinion (Written) ( Commercial Property )
Agreements/Deeds ( Joint Development Agreement )
Lease/Rental Agreements ( Car Parking Agreement )
Affidavits ( Passport Affidavits )
Agreements/Deeds ( Agreement of Sale )
Registration Assistance ( Plot )
Lease/Rental Agreements ( Leave And Licence )
Affidavits ( General Affidavits )
Agreements/Deeds ( Sale deed )
Registration Assistance ( Apartment )
Packages ( Legal Opinion to Registration (Plot/Site) )
Consultation on Property ( Property Buying )
Affidavits ( Other Affidavits )
Agreements/Deeds ( Gift Deed )
Registration Assistance ( Independent House )
Packages ( Sale Agreement to Registration (Plot/Site) )
Consultation on Property ( Property Selling )
Agreements/Deeds ( Sale Agreement/Deed Review )
Registration Assistance ( Commercial Property )
Packages ( Sale Agreement to Registration (Apartment) )
Power of Attorneys ( General Power of Attorney )
Agreements/Deeds ( Rectification Deed )
Lease/Rental Agreements ( Apartment Rental Agreement )
Packages ( Legal Opinion to Registration (Apartment) )
Power of Attorneys ( Special Power of Attorney )
Agreements/Deeds ( Relinquishment deed )
Lease/Rental Agreements ( House Rental agreement )
NRI Services
Property Disputes ( Illegal Transfer of Land And Property )
Landlord Tenant Disputes ( Landlord Tenant Disputes )
Succession Certificate ( Succession Certificate )
Buying Selling of Property in India ( Buying/Selling of Property in India )
Property Search ( Land And Property Search )
Propert Transfer ( Land and Property Transfer )
Property Disputes ( Illegal Sale of Land And Property )
Subject : Drafting a Will
Question : Can i specify an under construction property in the Will? The property will be delivered only after a year. But i want to register the Will now by bequeathing my properties to my son. Is that possible?
Answer by Kachwala Misar & Co. : Yes. But how do you demonstrate that you have right in the under construction property? I presume that you would have a allotment letter or registered agreement executed by the Builder/Developer in your favour. Please mention the details of the same also in the will.
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 Kachwala Misar & Co. : Please share more details rather the ready reckoner rate.
Stamp Duty would depend upon the Rent amount, License Period and the Security Deposit and only then the amount payable can be decided
Subject : Power of attorney of house
Question : My house is on name of my grandmother. There are no any nominee or will or power of attorney of house. There is only dastaveg of house which is on name of my grandmother. But she is no alive. What is the prosidure to make that property on name of my grandfather. There are no any proof of marriage.
Answer by Kachwala Misar & Co. : Apply for Succession Certificate or heirship certificate from court.
Subject : Power of attorney of house
Question : My house is on name of my grandmother. There are no any nominee or will or power of attorney of house. There is only dastaveg of house which is on name of my grandmother. But she is no alive. What is the prosidure to make that property on name of my grandfather. There are no any proof of marriage.
Answer by Kachwala Misar & Co. : Apply for Succession Certificate or heirship certificate from court.
Subject : Registration of property
Question : Hello, I want advice on property registration. I have flat of 900 super built up area in Patna which I want to sell for Rs 27 lakhs. A buyer has agreed and an agreement has been made accordingly. However as per valuation the value of a property of 900 sq feet in my area is Rs 36 lakhs. Now the buyer wants to register the sale deed at Rs 36 lakhs. As payments will be made to my bank account, what will be the legal aspects and tax problems as payment amount will be Rs 27 lakhs,and I shall have to pay income tax accordingly. Please advice on the course of action to be taken. Thank you
Answer by Kachwala Misar & Co. : Sir, If your agreement value in the agreement is Rs 36 Lakhs then FIRST buyer will have to show the proof of payment of RS 36 lakhs and SECOND in your books of accounts the income received would be RS 36 lakhs and you will have to pay tax on that. In any case, you can register the property with consideration as Rs 27 lakhs and pay stamp duty on Rs 36 Lakhs.
