FREE 10+ Land Exchange Agreement Samples in MS Word | Google Docs | Apple Pages | PDF

Land exchanges are a popular method of managing federal lands. It entails a federal agency transferring public land to another owner in exchange for other lands through an open and transparent process. When the exchange is finished, the title to the formerly federal lands is swapped for the title to the private or state lands involved. Congress must approve land exchanges before they can be administered or legislated. They contribute to the public good in a number of ways, including economic development.

10+ Land Exchange Agreement Samples

Whether a major focus is transferred and whether rent consideration is taken into account affects the treatment. The note includes examples of how the rules work as well as for instructions for filling out the land transaction return. The note also summarizes the market liquidity reliefs that may be available for certain residential property exchanges. Land for land exchange occurs when two or more parties enter into two or more land transactions in exchange for each other, whether or not any other consideration is provided (section 47, Finance Act 2003).

1. Land Exchange Agreement Template

2. Land Exchange Agreement

3. Sample Land Exchange Agreement

4. Agreement for Exchange of Land

5. Land Property Exchange Agreement

6. Land Development Exchange Agreement

7. Standard Land Exchange Agreement

8. Basic Land Exchange Agreement

9. Land Exchange Agreement Summary

10. Land Exchange Initiate Agreement

11. Land Management Exchange Agreement

Land For Land Exchange

An exchange can take place between two parties or between three or more. In a three-cornered transaction, for instance, A agrees to transfer property to B in exchange for B transferring property to C. A agrees to transfer property to B in exchange for B transferring property to C and C transferring property to A in a four-cornered transaction.

Separate And Unlinked Transactions

A land exchange is treated as two (or more) separate land acquisitions, one by each of the participants. For SDLT purposes, the transactions are not linked, so the chargeable consideration for each is not aggregated to verify the applicable SDLT rates (section 47(1) of the Finance Act 2003).

There are specific arrangements in place regarding applications to the government by private developers or owners for modification of lease conditions in order to optimize the use of land within the statutory planning framework in general. Land may occasionally be granted as an extension to a lot, in addition to modification (including land exchange).

All previous lease conditions, including the lease term and the rent, will remain unchanged in modification cases that do not involve any realignment of the boundaries of the lot(s) protected by the lease involved and are conducted by a modification letter, with the exception of the conditions being modified.

Exchange of Different Value Properties

Frequently, one land interest is exchanged for a less valuable land interest (for example, where equality money is paid or there is a gift element in the exchange). The consideration given should be apportioned in these transactions to determine the chargeable consideration given for the interest received and any other matter. This apportionment should be done in a fair and reasonable manner (paragraph 4, Schedule 4, Finance Act 2003).

The new lease term will usually be 50 years from the date of grant, subject to an annual rent equal to 3% of the rateable value of the property at the time, adjusted in step with changes in the rateable value thereafter, and payable from the date of grant in all other modification cases conducted by way of land exchange involving surrender and regrant of land.

The premium paid for the above modification (including land exchange) is roughly equivalent to the increase in land value, i.e. the difference between the land’s value under previous conditions and its value under modified conditions.

FAQs

What is a major interest?

A “major interest” is a legal or equitable freehold or leasehold estate (section 117, Finance Act 2003). (A leasehold interest is a major interest for SDLT purposes regardless of its term, whereas a major interest for VAT purposes refers to a lease with a term exceeding 21 years.) A leasehold easement is not a major interest because it is not an estate inland.

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