Exchange [Sections 118 — 121]

Two neighbours in Vashi each own a small plot. One wants to move closer to the station, the other wants more land near the creek. They agree to swap, with no money changing hands. Is that a sale? Does it need a registered document? And if one of them later discovers that the plot he received had a flaw in the owner’s title, what can he do? Sections 118 to 121 of the Transfer of Property Act are four short sections that answer these questions by borrowing heavily from the law of sale.

In two minutes

An exchange is a mutual transfer of ownership of one thing for the ownership of another, where neither thing is money only (or both are); it is completed in the manner the Act prescribes for a sale of that property, and each party is treated as seller of what he gives and buyer of what he takes.

The rest of this chapter

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