The exchange is represented by a transaction with the help of which an exchange of real estate, cars or other values takes place. They may be equivalent, or may differ in value, so one party to the transaction is forced to transfer a certain amount of funds to the second participant. When drafting the contract, it is important to take into account some rules, since only in this case a document with legal force will be received. Therefore, the essential terms of the exchange agreement governing relations that arise between the two parties are necessarily indicated in the text.
Compilation Nuances
An agreement is used both between individuals and between different companies. Basic information on how to draw up such an agreement is prescribed in numerous articles of the Civil Code.
You can exchange real estate, cars or even small valuable items. The basic rules for the implementation of this process should be fixed in a formal contract, belted by both participants.
Legislative regulation
Essential terms of the exchange agreement are prescribed in the Civil Code. Based on Art. 567 of the Civil Code is represented by a civil law transaction in which people or companies exchange property. Finding equivalent items is quite difficult, so often an additional payment is required from one participant.
For such a transaction to be legal and legally clean, it is required to correctly draw up an agreement. The process can be carried out by direct participants, so there is no need to invite a notary or lawyer.
What conditions are included?
In drafting the agreement, much attention is paid to the essential terms of the exchange agreement. Without them, such a document would not have legal force. If it turns out that such conditions are absent, then it will not work to challenge the transaction through the court.
The essential terms of the exchange agreement are:
- information on the parties to the transaction;
- information about the subjects of the agreement, and with the help of these data there should be no difficulties with the identification of objects;
- the value of each property, on the basis of which the size of the surcharge from any party to the transaction is determined;
- date of signing the contract;
- calculation methods;
- guarantees available to each participant;
- rights and obligations of the parties.
In addition, other conditions may be included that depend on the particular transaction. The essential terms of the real estate exchange agreement must be included in this document without fail. Only in this case, such a document can be used during an appeal to the court if there are any disagreements between the two parties that cannot be resolved peacefully.
Information on the parties to the contract
This clause is considered important to the agreement. Participants in this transaction can be any person or company. The following information is entered into the agreement about each party:
- Names of participants, their passport details, gender, place of residence and date of birth;
- if the participant is a company, then its name, legal address and information from the constituent documentation is indicated.
Information about each participant should be transferred to the contract from the passport, charter, certificate of registration of the company and other official documents. Otherwise, there is a possibility that any participant is a scammer, so they will be entered inaccurate information in the text.
Transaction subject
According to the Civil Code of the Russian Federation, the essential terms of the exchange agreement include data on direct objects exchanged by the parties to the transaction. Most often, this contract is drawn up when exchanging real estate, so the following information is included in the text of the contract:
- The exact address of both objects
- area of apartments;
- information about the presence of various burdens or restrictions;
- information about the direct owners;
- technical parameters of each object.
If any property has several owners, the party to the transaction must first obtain written consent for a barter from all co-owners. Using the information entered into the contract, each participant in the transaction should easily identify any apartment. Only real estate owned by a particular citizen on the right of ownership can act as a barter.
It will not be possible to use municipal housing for this transaction, since the citizens living in this apartment are only tenants, and not the direct owners. The exchange procedure for such an object is regulated by the municipality, since in fact the owner of this property is the local administration of the region. To make a barter transaction, you will have to contact the municipality directly. Exchange is allowed exclusively to another non-privatized apartment. Otherwise, you will have to first deal with the privatization of real estate, and only after that make a deal.
Transaction value
The essential terms of the apartment swap agreement will certainly include information on how much money will have to be transferred to one participant. This is due to the fact that almost always such a deal is concluded between people or firms that have apartments with different prices.
Under such conditions, one party must transfer to the second participant a certain amount of funds, which acts as compensation for the value of objects. When determining this price, the following parameters are taken into account:
- either cadastral or market value of apartments is compared;
- often owners first have to turn to independent experts to conduct a qualitative assessment, which makes it clear what market value the objects have;
- an internal assessment may also be applied, which does not involve the involvement of third parties, for which the documents on the basis of which the apartments were purchased are used;
- take into account the location of objects, their area, as well as technical and external condition;
- if one of the participants does not agree with the surcharge, then the transaction is not concluded.
If an independent appraiser is involved in the process, then it takes into account various factors when determining market value. These include the address of each object, cadastral price, the cost of similar objects and other parameters. Therefore, the assessment of this specialist allows you to really determine the desired indicator, which are guided by the participants in the transaction. But the services of this appraiser are paid.
Other important conditions
The essential terms of the exchange agreement must be included in this agreement without fail in order for it to have legal force. The main ones are information about the participants and immediate subjects of the transaction. In addition to the essential terms of the apartment swap agreement:
- the rights of the parties, which should be the same, as it is not allowed to infringe upon the rights of at least one participant;
- the obligations that citizens must clearly comply with the terms of this agreement, for which they must carry out pre-sale preparation, write out all people from real estate, and also make the necessary changes to the USRN;
- if one of the parties has to pay a certain amount of funds to the second participant, it is prescribed not only what amount of funds will be transferred, but also when this process will be completed, what method will be used for this, and how the transfer of money will be recorded;
- the responsibility of the parties is given, therefore, if one participant receives real estate that does not have the necessary parameters under the contract, then it can sue the other participant, terminate the agreement ahead of schedule, or demand some compensation from the owner of this property.
If the parties to the transaction are citizens who do not have the necessary knowledge to competently draw up an agreement, then it is advisable to contact an experienced lawyer with this question.
Burden Information
It is included in the essential terms of the exchange agreement in the Republic of Belarus and the Russian Federation, since often the participants in such a transaction are faced with the fact that the other party transfers the property on which there is any encumbrance. It may be represented by bail, a ban on registration or arrest.
Therefore, it is advisable to indicate directly in the contract that if there are any encumbrances on the object or if third parties claim it, the agreement is terminated ahead of schedule, after which the monetary compensation paid is returned to one participant. Additionally, the culprit may pay compensation to the other party if it has already suffered any losses.
Background conditions
The essential terms of the contract of exchange of a land plot or other object must be included in this agreement without fail. But there are additional conditions that can fit into the contract if both parties wish. Most often, the following information is included here:
- real estate exchange procedure;
- the presence of furniture in each apartment;
- technical parameters of the facilities;
- if land plots are exchanged, it is indicated whether there are any buildings on the territory.
Each participant in the transaction may enter any additional information that is important to him. But at the same time, the information should not contradict the requirements of the law and the paragraphs entered into the contract earlier.
Conclusion
The material terms of the exchange agreement are significant information on the basis of which the relations arising between the two parties to the transaction are regulated. They are necessarily included in this agreement, since without them the documentation will not have legal force.
Additionally, other data that are considered important for a particular transaction may be entered into the text of the agreement. If people cannot independently draw up a contract, then it is advisable to seek help from a lawyer.