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Mother wants to gift property to son
26-Jun-2023 (In Property Law)
Mother wants her property to be given to son. Should she create gift deed or property will. Which one is easiest way.
you have both the options open to you. A will makes sure the property goes to the legal heirs after the death of the testator( maker of the will). A will does not require any stamp duty. A gift deed is used to transfer the property to any person during the lifetime of the doner. a gift deed needs stamp duty proportional to the value of the property and also involes LBT.
a gift deed cannot be challenged while a Will maybe challenged by other family members or relatives
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Adv. Sudarshan Desai
Pune | 400+ Answers
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you can either make any of it the difference is will shall be into force after the death of the mother gudt deed will immediately make him the owner and both the documents needs to be registered with the registrar so make it valid in future to contest any claim
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Adv. Brahmanand Dube
Navi Mumbai | 400+ Answers
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Hello Adv Minakshi Ovhal here
she can make gift Deed or will. in gift deed 2% stamp duty for blood relation and must be register and in case of will no need to pay Stamp duty and not compulsory register but as security it's good think if u register will. any more information plz call me
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Adv. Minakshi Bapu Ovhal Dakhane
Pune | 200+ Answers
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