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Author Topic: property settlement - which way is better-  (Read 1038 times)

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Offline learner9999

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property settlement - which way is better-
« on: March 02, 2015, 04:59:39 PM »
hello,

if a grandfather (in a hindu family) X has 2 sons and a daughter. and want to give his few self acquired and inherited property only to his eldest son(physically handicapped)... which way is better. 1.by way of will 2. by way of gift deed, with consent signature from the remaining siblings...

what is the difference between the above two and which way is much cleaner from future legal hassles.

Offline advRanjithRajagopal

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Re: property settlement - which way is better-
« Reply #1 on: March 02, 2015, 08:23:23 PM »
if there is no objection from any one than WILL or No WILL is cheaper since after the death of the grandfather a mutation will be required for transfer of name.

But if the grandfather feels that dispute may arise than gift is a safe option cause he will transfer the property while he is still alive in this case nobody's NOC will be required. but there will be stamp duty
adv.Ranjith Rajagopal

Offline user9999

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Re: property settlement - which way is better-
« Reply #2 on: March 04, 2015, 09:31:23 AM »
so a gift deed cannot be cancelled or challenged in anyway n future?
it it can be, what ways can it be challenged...

Offline saravanan.s

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Re: property settlement - which way is better-
« Reply #3 on: March 16, 2015, 09:21:41 AM »
a gift deed can also be challenged if it is believed to be done through fraud and undue coercion

 

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