Exchanges
We want you to stay up to date! Here you may consult everything you need to know about exchanges before requesting it from the Third Notary of Montería.
What is an exchange?
In articles 1955 to 1958 of the Colombian civil code, a exchange is declared as an act that allows two people to exchange one good for another.
Requirements
- National ID Card.
For assets, attach:
- Public Deed
- Certificates of good standing for valuation, property taxes and others that may apply (administration).
- Departmental and municipal valuation.
- Recent certificate of freedom (if the lot is rural, it should not be older than 5 days since it was emitted).
- Property owners’ public deeds.
Frequently Asked Questions
What happens if one of the good to be exchanged is worth more than the other?
Surplus may be given without altering the exchange. If the surplus is money that is well above the price of the asset that is being used as part of the payment, it would stop being considered a permuta (exchange) and be considered a trade (compraventa).
Can all goods be exchanged?
Assets and properties that are included in commerce, excluding the following cases: Assets belonging to the government, assets under an embargo, those that belong to minors and people under guardianship, as long as the process for a license for negotiation doesn’t take place.
What are the differences between an (permuta) exchange and a (compraventa) trade?
An exchange recognizes two goods as equal and exchangeable, even if extra money is paid to equate the values, but when this exceeds the price of the good that is being given as part of the payment, it’s considered a (compraventa) trade.