Exchange deed
Piyush
(Querist) 06 September 2014
This query is : Resolved
Greetings!
Sir/Mam there was an exchange deed of flats with same area executed between my dad(owner of flat 1) and his sister(flat 2). Those flats were then transfered to their respective names in the share certificates of the society after submitting an application to the society. I.e Dad's name is in the share certificate of flat 2, and his sister's in flat 1.
The exchange deed was executed on Rs.20 stamp paper.
Now we've to sell the said flat 2. Do we have to take permission of its previous owner I.e. His sister?
Or can you please provide me with the specific sections dealing in this context, so I can refer them.
Thankyou. Have a nice day.
Devajyoti Barman
(Expert) 06 September 2014
The exchange deed is not effective unless the same is registered on payment od stamo duty wh9ch in your case is not done.
So you need permission of the actual owner of the flat before exchange to be transferred.
ajay sethi
(Expert) 06 September 2014
deed of exchange is under stamped and not regd . hence title to flat is not clear and marketable . it would be difficult to sell the flat
