Exchange as a Mode of Transfer

Section 118 to 121 of the Transfer of Property Act, 1882 deals with exchange. A transaction is an exchange transaction when

  • There are two people involved in the transaction
  • There should be transfer of ownership of one thing with another
  • The ownership of a thing should not be transferred in exchange of money

An exchange deed has to be written, has to be registered, and stamp duty as a conveyance of similar value is applicable.

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