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Legal Formats Property Law

DEED OF EXCHANGE

This DEED OF  EXCHANGE is made and executed at ______ on this _______ day of ______________, Two Thousand _______

BETWEEN

………. ,PAN NUMBER……….,EPIC/Passport /OCI/CIO/PIO No………., Adhar No………..  son / wife  / daughter of    ……….  residing at ……………..by faith…………… , by Occupation …………. , by Nationality……………….,

Herein after referred to and called as the “FIRST PARTY ”

AND

………. ,PAN NUMBER……….,EPIC/Passport /OCI/CIO/PIO No………., Adhar No………..  son / wife  / daughter of    ……….  residing at ……………..by faith…………… , by Occupation …………. , by Nationality……………….,

Herein after referred to and called as the “SECONDPARTY ”

Whereas the first party being complete owner of the property stated in the first schedules annexed herewith; 

And Whereas the second party being complete owner of the property stated in the second schedules annexed herewith; 

And Whereas the parties hereto have mutually consented to exchanging and transferring the said properties stated in the first and second schedules hereto in the way hereinafter appearing;

Now This Deed Witnesses as Follows: 

  1. Per said covenant and in consideration of the transfer by the second party hereinafter stated the first party hereby grants, conveys, assigns and transfers to the second party all property described in the first schedule hereto In Holding and Having the same to the second party completely for good; 
  2.  Per said covenant and in consideration of the transfer by the first party herein before contained the second party hereby grants and transfers to the first party all the property stated in the second schedule hereto In Holding and Having the same to the first party completely for good. 
  3.  Each parties hereto agrees with the other and declares that the property so transferred by him is free from all encumbrances; and that the property so transferred by each of them shall be peaceably entered upon and enjoyed and held by the other of them the rents /profits as received by other of them without any restriction or interference by the party conveying the same; and each parties per request /cost of the other assurance and do every such act or thing as shall reasonably be needed by such other for highly assuring to such other the property so conveyed to him.
  4. That all the expenses of the Exchange Deed such as Stamp duty, Registration fees etc. shall be borne equally by both the parties hereto.
  5. That both the Parties to this Exchange Deed have paid all taxes, charges, dues, demands, arrears, electricity charges etc. in respect of their respective properties ( as mentioned in the respective schedules ) to the concerned departments for the period prior to the date of execution of this Exchange deed.
  6. That in future both the parties hereto shall pay all taxes, charges, demands, electricity charges, bills, house tax, etc. in respect of the above exchanged properties.
  7. That both the parties hereby agree and assure each other to help and assist in getting the properties, as exchanged above transferred/ mutated in the relevant records of concerned authority / department.
  8. That each party shall have full right to apply and get water, electric and sewerage connection regarding property as exchanged above from the concerned authorities and also to get existing name changed in his / her own name from the department concerned.
  9. That in case it is proved otherwise at any time and any of the parties suffer any loss, then the defaulting party shall be fully liable and responsible for the same and the aggrieved party shall be entitled to recover all his / her loses from the defaulting party.
  10. That in future none of the party to this Exchange deed shall claim right, title and interest in the said property which has been exchanged in favour of the party as mentioned above.

(TYPING OPTION any other clause may be added)

                           FIRST SCHEDULE PROPERTY

(Property belongs to the First Party exchanged to the Second Party )

                              (Typing Option)

                              SECOND SCHEDULE PROPERTY

(Property belongs to the Second Party exchanged to the FirstParty )

                              (Typing Option)

IN WITNESS WHEREOF , the parties have signed / affixed their thumb mark on this Exchange Deed after understanding the contents of the same on the day, month and year first above written in presence of the following witnesses

______________________________ 

                                                                Signature of the First Party

                                                            ______________________________

                                                             Signature of the Second Party

WITNESSES :

SIGNED, SEALED AND DELIVERED

by the Parties at ___________ in the presence of :

1.

2

Drafted by me:

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