1)the terms and conditions of agreement ought to have been reduced in writing duly stamped and registered .
2) in your case oral agreement has only been entered into
3) whether revenue records reflect the oral exchange between parties ?
4) case of Mohammed Aslam and Ors. v. Azad Khan and Anr., A.I.R. 1947 Peshawar 27. In the aforesaid judgment, it is held that exchange of immovable property can be effected by an oral agreement between the parties.
5) in Sardara Singh's case (supra). The Division Bench was considering the case pertaining to oral exchange. The learned District Judge took the view that an oral exchange was permitted in the Punjab and held the exchange to be valid. It was also held that the plaintiff was estopped from challenging the exchange.
6) you can refuse to take your land and pay the money demanded by the other person