Question:
Principle: Where there is transfer of ownership of one thing for the ownership of some other thing it is called exchange; while transfer of ownership for consideration of money is called sale, whereas, without consideration it becomes gift.
Facts: ‘A’ transfers his house worth 50 Lakhs to ‘B’ for a shopping building worth the same amount, as consideration from ‘B’.
Principle: Where there is transfer of ownership of one thing for the ownership of some other thing it is called exchange; while transfer of ownership for consideration of money is called sale, whereas, without consideration it becomes gift.
Facts: ‘A’ transfers his house worth 50 Lakhs to ‘B’ for a shopping building worth the same amount, as consideration from ‘B’.
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An exchange involves the transfer of ownership of one property for another property. The key distinction from a sale is the absence of money as consideration.
Updated On: Aug 11, 2025
- The transaction is a gift
- The transaction is a sale
- The transaction is an exchange
- The transaction is a mortgage
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The Correct Option is C
Solution and Explanation
Since there is a transfer of one property in exchange for another property of equal value, this transaction is classified as an exchange under the law. It is not a sale, as there is no monetary consideration.
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