Settlement deed or will
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
ajay sethi
(Expert) 18 June 2013
it is in your mother interest that property be bequeathed only by will . if she makes a gift deed god knows whether any children will look after her in her old age or not
shanmugman
(Querist) 18 June 2013
Please let me know if my mother writes this property in one son's name can the other son claim for it in future. Note this is property earned by mother out of her own earnings.
Nadeem Qureshi
(Expert) 18 June 2013
no, The mother is absolute owner of the property, she have all rights in the property, so if she write this property to one son then the other son can not claim in , neither in present nor future.
shanmugman
(Querist) 18 June 2013
Please let me know which is the best way to write the property to the son.
1) Will(registered)
2) Settlement Deed (registered)
3) Gift Deed (registered)
Which is the best option among the three mentioned above or any other option is there?
Adv Archana Deshmukh
(Expert) 18 June 2013
All options have its own pros and cons however, Will is a better option considering the fact that the ownership remains with the testator during the lifetime.
Rajendra K Goyal
(Expert) 18 June 2013
Will is the better option in the given circumstances.
