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Which is the better way of transferring property Will or gift deed
23-Feb-2023 (In Documentation Law)
I am from Kolkata, my aged uncle is willing to give his house to me so he made a will. Recently one of my friend suggested me that "will" is not a solid tool in this case, "gift deed" is the solid one. Will may be challenged in the court by other relatives and they can charge me that I have forcefully made that will by influencing my uncle. I am slightly confused in this matter and my uncle also. Kindly tell me which is the more safe procedure for me. I am getting different opinions - someone saying that both options are good and safe and someone saying gift deed is much safe. Thanks
A will or testament is a legal declaration by which a person provides for the distribution of his or her property at death. A will can only executed after death of your uncle which means that the rights of your property can only be transferred to you after the death of your uncle and a will can be changed at any time before the death. A will needs to be properly registered for proper execution whereas A Gift Deed is a legal document that describes voluntary transfer of gift from donor (owner of property) to donee (receiver of gift) without any exchange of money. The ownership rights will be transferred to you as soon as the gift deed is executed but you need to pay certain percentage of stamp duty for registeration of stamp duty.
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