Terpolymer resins (2,4-DHBOF) were synthesized by the condensation of 2,4-dihydroxybenzaldehyde and oxamide with formaldehyde in the presence of hydrochloric acid as catalyst, proved to be selective chelation ion exchange terpolymer resins for certain metals. Chelation ion exchange properties of these polymers were studied for Fe+3, Cu+2, Hg+2, Cd+2, Co+2, Zn+2, Ni+2 and Pb+2 ions. A batch equilibrium method was employed in the study of the selectivity of the distribution of a given metal ions between the polymer sample and a solution containing the metal ion. The study was carried out over a wide pH range and in a media of various ionic strengths. The polymer showed a higher selectivity for Fe+3, Cd+2 and Co+2 ions than for Cu+2, Hg+2, Zn+2, Ni+2 and Pb+2 ions.