Exchange Deed
A legal document for the exchange of properties between two parties under Section 118 of the Transfer of Property Act. This document belongs to the Property Law category.
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EXCHANGE DEED
THIS DEED OF EXCHANGE is made on this [date] at [place] between:
1. [party1Name], resident of [party1Address], hereinafter called the First Party.
2. [party2Name], resident of [party2Address], hereinafter called the Second Party.
WHEREAS the First Party is the owner of the property situated at [property1Details] and the Second Party is the owner of the property situated at [property2Details].
NOW THIS DEED WITNESSETH AS UNDER:
1. That the First Party hereby transfers the property situated at [property1Details] to the Second Party in exchange for the property situated at [property2Details].
2. That the Second Party hereby transfers the property situated at [property2Details] to the First Party in exchange for the property situated at [property1Details].
3. That the parties have already handed over the possession of their respective properties to each other.
4. That the exchange is made without any monetary consideration (or state if any difference is paid).
5. That the parties are now the absolute owners of the properties exchanged.
6. That the exchange shall be governed by the Transfer of Property Act, 1882.
IN WITNESS WHEREOF, the parties have signed this Deed on this [date] at [place].
FIRST PARTY
SECOND PARTY
WITNESSES:
1. [Witness 1 Name]
2. [Witness 2 Name]