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The Land Registration Rules 2003
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Transfers by way of exchange
59.—(1) Where any registered estate is transferred wholly or partly in consideration of a transfer of another estate, the transaction must be effected by a transfer in one of the forms prescribed by rule 58.
(2) A receipt for the equality money (if any) must be given in the receipt panel and the following provision must be included in the additional provisions panel—
“This transfer is in consideration of a transfer (or conveyance, or as appropriate,) of (brief description of property exchanged) dated today [if applicable, and of the sum stated above paid for equality of exchange].”.
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