Settlement deed
shanmugman
(Querist) 18 June 2013
This query is : Resolved
Dear Sir,
My mother has a property which she has bought out of her own earnings. Myself and my
brother are the only sons to my mother and there are no daughter's to my mother.
My mother wants to give this property to me. Please suggest whether will (Registered one)
or a settlement deed (registered one)is better as will registration costs lesser when compared with
settlement deed.
Also do let me know whether my brother can claim for this property in future.
Thanks
Shan
Dr. Jyothi Vishwanath
(Expert) 18 June 2013
Will is always better. The registration of will is charged nominally. Once the will is made, the brother cannot challenge.
but your mother can always change the will as many times as she wants.
Raj Kumar Makkad
(Expert) 18 June 2013
A will is always subject to challenge. Better to have a registered gift-deed so that its ownership may be duly changed in your favour.
Rajendra K Goyal
(Expert) 18 June 2013
Agreed with expert Sh. Raj Kumar Makkad ji.
shanmugman
(Querist) 19 June 2013
Thanks to the experts for the answers.
Settlement deed or Gift Deed is the best to chose in the above scenario mentioned.
i heard two persons for witness should be produced in registeration office for executing a settlement deed. can these two persons can be my relatives or third party persons.
shanmugman
(Querist) 19 June 2013
Thanks to the experts for the answers.
Settlement deed or Gift Deed is the best to chose in the above scenario mentioned.
i heard two persons for witness should be produced in registeration office for executing a settlement deed. can these two persons can be my relatives or third party persons.
R.K Nanda
(Expert) 20 June 2013
witness must be third party persons.
Rajendra K Goyal
(Expert) 20 June 2013
The third party person well known to you is preferable so that they can depose favorably in case of any future dispute.
