Gift deed

ars (Querist) 02 November 2015 This query is : Resolved
My mother as the first holder, along with me, holds a residential flat.

she has already made a will to allocate her 50% in my favour.

will it be sufficient or in any untoward happening, I had to take probation certificate?

if yes then the gift deed by her in my favour is the right choice, at this moment? she also has certain other investments / savings.

what is the stamp duty and registration cost of the gift deed at present?

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Anirudh (Expert) 02 November 2015
Have you any brother(s)/sister(s)?

Rajendra K Goyal (Expert) 03 November 2015
Will is OK in the given circumstances. However, will can be changed at any time.

ars (Querist) 03 November 2015
yes sir, I have 4 siblings.

in the will the said property has been exclusively allocated to me.

is probate required?

gift deed better option?

P. Venu (Expert) 05 November 2015
The Will takes effect only after the lifetime of the testator. And the Will could be redrawn any number of times.

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