VidhiSangh

Transfer of Property Act, 1882

Section 118: “Exchange” defined

Chapter VI — Of Exchanges

118. When two persons mutually transfer the ownership of one thing for the ownership of another , neither thing or both things being money only, the transaction is called an “exchange”.

A transfer of property in completion of an exchange can be made only in manner provided for the transfer of such pr operty by sale.

Source: official text of the Transfer of Property Act, 1882.