Mutual exchange of properties
Suppose i own a property say " A " which i got it from my father. There is another property " B " which is adjacent to A which is owned by my uncle (my father's elder brother). We both want to swipe the properties from A to B and vice verse from B to A for our mutual convenience. We want to save the stamp duty.
a) What are are ways by which we could transfer the properties?
b) Say if file a suit on my uncle we make a compromise decree in court will that compromise decree be treated as a Title for any further transactions?
c) Should we pay any stamp duty for registering the court decree in sub registrar's office?
Asked in Property Law from Bangalore, Karnataka
Deed of exchange can be prepared . it should be duly stamped and registered . we wont advise you to file any collusive suit .
For easy and trouble free solution you have to pay stamp duty but persons also go for solution( b) given by you and feel comfortable.
Advocate, New Delhi
deed of exchange can be executed by paying requisite stamp duty which u can't avoid
You cannot avoid payment of stamp-duty by any means for exchange.
You have to pay Stamp duty according to market value of the property and entered deed of exchange