Contract of exchange

Contract of exchange

The Civil Code, in provision § 611, states: the provisions on the contract of sale shall also be applied appropriately to the contract under which the contracting parties exchange a thing for a thing, in such a way that each of the parties is considered to be the selling party with regard to the thing that it gives in exchange, and with respect to the thing he receives in exchange, for the buying party.

A contract of exchange is therefore also a type of contract of consideration y The difference between a contract of sale and a contract of exchange is that in a contract of sale, money is provided for the thing. In a substitution contract, one thing is exchanged for one thing.

The requirements of contracts required by the law on real estate cadastre as well as by the law on the ownership of apartments and non-residential premises must also be observed in the case of a substitution contract.