Gift deed or Will for property transfer

975 votes

will will take a fact only after the death of your person and gift did can be done to the 3rd part is who are not the blood relations but in your case it is your mother so the self earned property of your mother can be given to you by the way of settlement deed and for the settlement deed the stamp duty is very less compared to the gift did

Advocate Satish Kumar LawRato

882 votes

hi alocious here, firstly gift deed does not apply here, since she's your mother the transfer of property shall be made by settlement deed, where in the property will be transferred to you, secondly even if will is written in your favour you need a settlement deed to have the property transferred, thank you, you can contact me for further clarifications

Advocate Alocious Felix Pandian LawRato

659 votes

Choosing between a Will and a Gift Deed for the transfer of your mother’s property depends on several factors including immediacy of transfer, tax implications, and registration charges:

A Gift Deed transfers the property immediately, whereas a Will takes effect after the demise of the person making the Will.

A Gift Deed transfers the property immediately, whereas a Will takes effect after the demise of the person making the Will.

Registration of gift deed involves stamp duty and registration fees which is costlier than will registration.

Gift deed cannot be revoked but it is not the case for will as it can be changed in any moment by the executor.

Considering the above facts, I suggest gift deed is the best option though there is a cost involved.

Advocate Suresh Kumar LawRato