THIS DEED of exchange made at……………….on this………………. day
of……………….20……………….between A son of……………….resident of……………….(hereinafter
called the “First Owner”) of the FIRST PART and B son of ……………….resident of……………….
(hereinafter called the “Mortgagee”) of the SECOND PART and C son of…………………resident
of……………….(hereinafter called the “Second Owner”) of the THIRD PART.
WHEREAS
(1) The First Owner is seized and possessed of or otherwise well and sufficiently entitled to the property
more particularly described in the First Schedule hereto, subject to the mortgage in favour of the
mortgagee to secure the payment of the principal sum of Rs . ……………….and interest thereon created
by mortgage deed dated……………….
(2) The Second Owner is seized and possessed of or otherwise well and sufficiently entitled to the
property, more particularly described in the Second Schedule hereto.
(3)The First Owner and the Second Owner have agreed to exchange their respective properties and the
mortgagee has consented to the said exchange and has agreed to join herein.
NOW THIS DEED WITNESSETH AS FOLLOWS
(1)In pursuance of the said agreement and in consideration of the transfer hereinafter made by the
Second Owner, the First Owner as beneficial owner with the consent of the mortgagee hereby grants and
transfers unto the Second Owner all that the property described in the First Schedule hereto to hold the
same unto the Second Owner subject to the mortgage money.
(2) In further pursuance of the said agreement and in consideration of the transfer hereinbefore made by
the First Owner, the Second Owner as beneficial owner hereby grants and transfers unto the First Owner
all that the property described in the Second Schedule hereto, to hold the same unto the first owner.
(3) The mortgagee, with the consent of and at the direction of the Second Owner hereby releases the
First Owner from his covenant to pay the mortgage money and from all claims or demands under or in
respect thereof.
(4) In consideration of the release hereinabove given the Second Owner hereby covenants with the
mortgagee that he will at all times hereafter duly and regularly pay all moneys which shall become
payable under the mortgage at the times and in the manner therein appointed and will also observe and
perform all the covenants therein contained on the part of the First Owner in the mortgage deed.
(5)The mortgagee shall be entitled to exercise all powers of sale and other powers contained or implied
in the mortgage deed and remedies for recovering payment of the moneys thereby secured or any part
thereof save as expressly released by Clause 3 hereof.
(6)It is hereby declared that the value of the property mentioned in each of the Schedules hereto is
Rs……………….
(7)This deed of exchange shall be executed in duplicate, the original shall be retained by the First Party
and the duplicate, duly signed and stamped shall be retained by the Second Party and shall for all
purposes be treated as the original.
IN WITNESS WHEREOF, the parties aforementioned have put their respective hands, the day and year
first hereinabove written

The First Schedule above referred to
(Particulars of land to be given by First Party)
The Second Schedule above referred to
(Particulars of land to be given by Second Party)

WITNESSES
1 Signed and delivered by the within named First Owner

2. Signed and delivered by the within named mortgagee