Section 31(4) in The Maharashtra Housing and Area Development (Estate Management, Sale, Transfer and Exchange of Tenements) Regulations, 1981
(4)On such exchange of tenements under this regulation, each allottee shall step into the shoes of each other and their rights and liabilities in respect of their respective tenements shall be governed according to the tenor on which the tenement is held under these Regulations :Provided that, where tenement is allotted on rental basis, both the tenants shall not be in arrears of rent due and payable to the Authority on the date of the exchange.
