Deed of Exchange
This Deed of Exchange is made and entered into at_________, this________ day of__________, 20___ between ABC, and adult Indian, aged about___ years, occ:- Agriculturist, r/o_______________________ and DEF, an adult Indian, aged about________ years, occ:- Agriculturist, r/o____________________.
WHEREAS, ABC is absolutely seized and possessed of a piece of agricultural land, admeasuring________ Acres and______ Gunthe, being and situate at Gatt & Hissa No._________, village__________, Tehsil________, District_________, which is more particularly described in Schedule I appended hereto.
AND WHEREAS, DEF is absolutely seized and possessed of a piece of agricultural land, admeasuring__________ Acres and_________ Gunthe, being and situate at Gatt & Hissa No_________, village_________, Tehsil_________, District_______, which is more particularly described in Schedule II appended hereto.
AND WHEREAS, BOTH ABC and DEF are agriculturists by occupation and they are personally tilling their respective lands described in Schedules I and II, and though the said lands are located at inconvenient distance from the place of abode of their respective owners, yet they are conveniently located from the place of abode of the other party hereto.
AND WHEREAS, the aforesaid inconvenient distance was a constant hardship for both the parties hereto, insofar as the tilling of their respective pieces of lands is concerned, they by mutual consent decided to exchange and barter their respective pieces of lands on certain terms & conditions, which are reduced to writing as here under:-
NOW THIS DEED OF EXCHANGE WITNESSETH AS UNDER:-
1] ABC, in lieu of and consideration of the property comprising agricultural lands described in Schedule II conveyed to him by DEF, hereby transfers, conveys, assigns and assures unto DEF, all the property comprising agricultural lands described in Schedule I and on the execution of these presents DEF shall hold and enjoy such properties absolutely without any fetters whatsoever.
2] DEF, in lieu and consideration of the property comprising agricultural lands described in Schedule I conveyed to him by ABC, hereby transfers, conveys, assigns and assures unto ABC, all the property comprising agricultural lands described in Schedule II and on the execution of these presents ABC shall hold and enjoy such properties absolutely, without any fetters whatsoever.
3] ABC and DEF on their part have already entered into vacant & peaceful possession of the property described in Schedule II & Schedule I, and to that extent they discharge and release each other from the mutual obligation.
4] ABC and DEF assure each other that the property conveyed and transferred by each of them is absolutely free from any kind of encumbrance in the form of charge, mortgage, sub-mortgage, lease, sub-lease etc. and the title conveyed to the other party is indefeasible. Both, ABC and DEF indemnify and keep indemnified each other against any loss, injury, damage or expenses arising out of any legal action in future at the instance of any person, insofar as the titular and possessory rights are concerned.
5] Mr____________________________, an Architect and Government approved valuer has carried out the valuation of the properties described in Schedules I & II and he has assessed their value at Rs. 5,50,000/- and Rs. 4,20,000/- respectively. As the worth of the property conveyed by ABC to DEF is more, DEF, in order to achieve equality of exchange value, has paid unto ABC a sum of Rs. 1,30,000/- (Rs. One Lakh Thirty Thousands Only), which sum, ABC hereby acknowledges to have received and acquits/releases DEF to that extent.
6] Both, ABC and DEF hereby agree to do all further acts, deeds and things and to sign all further documents, papers and writings as may be necessary to give effect to these presents.
SCHEDULE I
All that piece and parcel of land admeasuring_________ Acres and________ Gunthe, being and situate at________ wadi, Gatt & Hissa No._________, village________, Tehsil________, District____________ and bounded on four sides as follows:-
East:-___________
West:-___________
North:-___________
South:-___________
SCHEDULE II
All that piece and parcel of land admeasuring________ Acres and_______ Gunthe, being and situate at____________ wadi, Gatt & Hissa No:-________, village_____, Tehsil_______, District_____________ and bounded on four sides as follows:-
East:-___________
West:-___________
North:-___________
South:-___________
In witness whereof both the parties hereto have set and subscribed their respective hands to this writing the day, month and year, first hereinbefore mentioned.
Signed, Sealed and Delivered
by the withinnamed ABC, in the
presence of
Witness:-
Name:-__________
Address:-__________
ABC
Signed, Sealed and Delivered
by the withinnamed DEF, in the
presence of
Witness:-
Name:-____________
Address:-___________
DEF
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