Personal Property Exchange Agreement

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This Personal Property Exchange Agreement is used when one party exchanges real estate for personal property owned by another. It sets out all relevant terms including how the real estate will be conveyed.

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This Personal Property Exchange Agreement is between one party who desires to exchange personal property for real estate owned by a second party. This agreement sets forth the names and addresses of the parties, the exact personal property owned by the first party and how this property will be delivered. It also spells out the exact details of how the real property will be conveyed to the first party.

In this agreement the parties also agree that the properties will be invoiced at market cost and the parties agree to pay any excess differential value of the personal versus the real property. The agreement also contains provisions regarding time for payment after review of the invoices, execution of a bill of sale and that title to personal property will be retained by first party until full payment is made and a bill of sale is executed.

This Personal Property Exchange Agreement includes the following:
  • Parties/Property: Sets forth the names of the parties and the personal property to be exchanged for specific real property;
  • Conveyance of Real Property: Real property will be conveyed to the first party via a deed, the specific type of deed to be determined by the parties;
  • Invoicing: Personal property will be invoiced and second party agrees to pay any excess over a set amount as the difference in the price of the exchanged properties;
  • Bill of Sale: First party agrees to execute a bill of sale for the personal property;
  • Title: First party shall retain title and possession of personal property until full payment is made (if applicable);
  • Non-Compete: Seller agrees not to compete with buyer as an employee or partner of another business for a specified number of years;
  • Signatures: Both parties must sign this agreement in the presence of a notary public.

Protect your rights and your property by using our attorney-prepared forms.

This attorney-prepared packet contains:
  1. General Information
  2. Instructions and Checklist
  3. Personal Property Exchange Agreement
State Law Compliance: This form complies with the laws of all states
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Personal Property Exchange Agreement

 

 
THIS PERSONAL PROPERTY EXCHANGE AGREEMENT is made, effective as of ______, by and between ______ ("First Party"), residing at ______, ______, ______  ______, and ______ ("Second Party"), residing at ______, ______, ______  ______.
 
Recitals
 
The parties recite and declare:
 
   A.   First Party is the owner of ______, presently located at ______, in ______ County.
 
   B.   Second Party is the owner of certain real estate located at ______, in ______ County, which real estate is more particularly described in ______, at page ______, now of record in the ______ County Recorder's Office, located at ______, in ______ County.
 
   C.   First Party desires to exchange ______ for the abovedescribed real estate of Second Party.
 
In consideration of their mutual promises set out below, the parties agree as follows:
 
1.   Property To Be Exchanged
 
First Party agrees to exchange such ______ presently located at ______, in ______ County, referred to as personal property, for the real property of Second Party situated at ______, in ______ County, referred to as real property.
 
2.   Delivery of Personal Property
 
First Party shall deliver the personal property to Second Party at a place to be designated by Second Party on or before ______.
 
3.   Conveyance of Real Property
 
(a)   In exchange for the delivery of the personal property, First Party agrees to accept a ______ deed for the real property of Second Party.
 
(b)   Second Party agrees to execute a good and sufficient ______ deed to First Party, and to furnish an abstract for the real property, showing perfect title in grantor free and clear of encumbrances.  Second Party agrees to pay all taxes due to the date of conveyance of the real property, which conveyance will be made on or prior to ______.
 
4.   Invoicing of Personal Property
 
(a)   It is agreed by and between both parties that the ______ shall be invoiced at the marked cost price.
(b)   If the personal property shall invoice at $______, Second Party agrees to pay the excess over the $______ as the differential between the value of the personal property and the real property, which real property for purposes of this exchange agreement is agreed to be valued at $______.
 
(c)   The invoicing of the personal property shall begin no later than ______, and shall be completed as soon as possible.
 
5.   Good Faith Deposit
 
(a)   As evidence of good faith, each party to this agreement shall deposit $______ with ______, located at ______, as a guarantee of good faith for the faithful compliance with this agreement.
 
(b)   If either party to this agreement shall reject, fail to comply, or refuse to comply with this agreement, then the abovementioned bank is hereby authorized and instructed to pay over both amounts so deposited to the party ready and willing to carry out that party's part of this agreement.  Payment shall be in full as liquidated damages, and not a penalty.
 
6.   Time for Payment
 
If, at the end of the invoicing of the personal property, as stated above, it is determined that Second Party owes money to First Party, Second Party agrees to make payment to First Party in cash within [spelled number of days] (______) days after the end of the invoicing.
 
7.   Execution of Bill of Sale
 
(a)   First Party agrees to execute a bill of sale for the personal property to Second Party on or before ______.
 
(b)   No goods shall be added to the personal property, and no goods shall be taken out of the personal property as of the date of the signing of this agreement.
 
8.   Extension of Time
 
If Second Party cannot procure an abstract for the real property, as provided above, showing perfect title in grantor free and clear of encumbrances by the time such personal property is invoiced, Second Party may have an additional [spelled number of days] (______) days to procure the abstract.
 
9.   Title to Personal Property
 
(a)   First Party shall retain title and possession of the personal property until payment is fully made.
 
(b)   As soon as Second Party makes full payment to First Party, First Party shall immediately execute a bill of sale for the personal property free and clear of encumbrances to Second Party.
 
10.   Governing Law
 
It is agreed that this agreement shall be governed by, construed, and enforced in accordance with the laws of the State of ______.
 
11.   Attorney Fees
 
In the event that any action is filed in relation to this agreement, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney fees.
 
12.   Effect of Partial Invalidity
 
The invalidity of any provision of this agreement will not and shall not be deemed to affect the validity of any other provision.  In the event that any provision of this agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision.
 
13.   Entire Agreement
 
This agreement shall constitute the entire agreement between the parties.  Any prior understanding or representation of any kind preceding the date of this agreement shall not be binding upon either party, except to the extent expressly set forth in this agreement.
 
14.   Modification of Agreement
 
Any modification of this agreement or additional obligation assumed by either party in connection with this agreement shall be binding only if evidenced in a writing signed by each party or an authorized representative of each party.
 
15.   Assignment of Rights
 
The rights of each party under this agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party.
 
Each party to this agreement has caused it to be executed at ______, on the date indicated below.
 
FIRST PARTY:
 
[Signature of Party 1 to exchange]
[Notary for Party 1 to exchange]
SECOND PARTY:
[Signature of Party 2 to exchange]
[Notary for Party 2 to exchange]
Number of Pages7
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#43630
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Personal Property Exchange Agreement

 

 
THIS PERSONAL PROPERTY EXCHANGE AGREEMENT is made, effective as of ______, by and between ______ ("First Party"), residing at ______, ______, ______  ______, and ______ ("Second Party"), residing at ______, ______, ______  ______.
 
Recitals
 
The parties recite and declare:
 
   A.   First Party is the owner of ______, presently located at ______, in ______ County.
 
   B.   Second Party is the owner of certain real estate located at ______, in ______ County, which real estate is more particularly described in ______, at page ______, now of record in the ______ County Recorder's Office, located at ______, in ______ County.
 
   C.   First Party desires to exchange ______ for the abovedescribed real estate of Second Party.
 
In consideration of their mutual promises set out below, the parties agree as follows:
 
1.   Property To Be Exchanged
 
First Party agrees to exchange such ______ presently located at ______, in ______ County, referred to as personal property, for the real property of Second Party situated at ______, in ______ County, referred to as real property.
 
2.   Delivery of Personal Property
 
First Party shall deliver the personal property to Second Party at a place to be designated by Second Party on or before ______.
 
3.   Conveyance of Real Property
 
(a)   In exchange for the delivery of the personal property, First Party agrees to accept a ______ deed for the real property of Second Party.
 
(b)   Second Party agrees to execute a good and sufficient ______ deed to First Party, and to furnish an abstract for the real property, showing perfect title in grantor free and clear of encumbrances.  Second Party agrees to pay all taxes due to the date of conveyance of the real property, which conveyance will be made on or prior to ______.
 
4.   Invoicing of Personal Property
 
(a)   It is agreed by and between both parties that the ______ shall be invoiced at the marked cost price.
(b)   If the personal property shall invoice at $______, Second Party agrees to pay the excess over the $______ as the differential between the value of the personal property and the real property, which real property for purposes of this exchange agreement is agreed to be valued at $______.
 
(c)   The invoicing of the personal property shall begin no later than ______, and shall be completed as soon as possible.
 
5.   Good Faith Deposit
 
(a)   As evidence of good faith, each party to this agreement shall deposit $______ with ______, located at ______, as a guarantee of good faith for the faithful compliance with this agreement.
 
(b)   If either party to this agreement shall reject, fail to comply, or refuse to comply with this agreement, then the abovementioned bank is hereby authorized and instructed to pay over both amounts so deposited to the party ready and willing to carry out that party's part of this agreement.  Payment shall be in full as liquidated damages, and not a penalty.
 
6.   Time for Payment
 
If, at the end of the invoicing of the personal property, as stated above, it is determined that Second Party owes money to First Party, Second Party agrees to make payment to First Party in cash within [spelled number of days] (______) days after the end of the invoicing.
 
7.   Execution of Bill of Sale
 
(a)   First Party agrees to execute a bill of sale for the personal property to Second Party on or before ______.
 
(b)   No goods shall be added to the personal property, and no goods shall be taken out of the personal property as of the date of the signing of this agreement.
 
8.   Extension of Time
 
If Second Party cannot procure an abstract for the real property, as provided above, showing perfect title in grantor free and clear of encumbrances by the time such personal property is invoiced, Second Party may have an additional [spelled number of days] (______) days to procure the abstract.
 
9.   Title to Personal Property
 
(a)   First Party shall retain title and possession of the personal property until payment is fully made.
 
(b)   As soon as Second Party makes full payment to First Party, First Party shall immediately execute a bill of sale for the personal property free and clear of encumbrances to Second Party.
 
10.   Governing Law
 
It is agreed that this agreement shall be governed by, construed, and enforced in accordance with the laws of the State of ______.
 
11.   Attorney Fees
 
In the event that any action is filed in relation to this agreement, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney fees.
 
12.   Effect of Partial Invalidity
 
The invalidity of any provision of this agreement will not and shall not be deemed to affect the validity of any other provision.  In the event that any provision of this agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision.
 
13.   Entire Agreement
 
This agreement shall constitute the entire agreement between the parties.  Any prior understanding or representation of any kind preceding the date of this agreement shall not be binding upon either party, except to the extent expressly set forth in this agreement.
 
14.   Modification of Agreement
 
Any modification of this agreement or additional obligation assumed by either party in connection with this agreement shall be binding only if evidenced in a writing signed by each party or an authorized representative of each party.
 
15.   Assignment of Rights
 
The rights of each party under this agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party.
 
Each party to this agreement has caused it to be executed at ______, on the date indicated below.
 
FIRST PARTY:
 
[Signature of Party 1 to exchange]
[Notary for Party 1 to exchange]
SECOND PARTY:
[Signature of Party 2 to exchange]
[Notary for Party 2 to exchange]

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