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Jayanta Bandyopadhyay   10 September 2023

Probate vs gift deed

As Probate procedure is taking 2 years plus , advocates suggests Gift Deed between Donor Sister and Donee Brother, who have a cordial relationship. 

I have read that Probate is more effective as it is a declaration to world whereas Gift Deed is between a close knit family.

Kindly guide.

 



Learning

 6 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     10 September 2023

If there is a dispute in the property among the legal heirs.  You have no such problems you can gift the property to your sister.

T. Kalaiselvan, Advocate (Advocate)     10 September 2023

Probate is the process completed when a decedent leaves assets to distribute, such as bank accounts, real estate, and financial investments. Probate is the general administration of a deceased person's will or the estate of a deceased person without a will.

A Gift Deed is a document that allows the original property owner to voluntarily give away their property to a person, trust or a party as a gift. Having this document in place helps avoid disputes that may arise because of inheritance claims.

In view of foregoing, what is your status.

 

Real Soul.... (LEGAL)     11 September 2023

If the property belong to person and is his or her owned property then he can gift it and there is no bar and that is more effective then will

Advocate Bhartesh goyal (advocate)     11 September 2023

By virtue of gift deed ownership of property transfers immediately to donee as soon as donor execute and register gift deed in favour of donee and donee accept it whereas  probate is a certificate issued by court for declaration  of ownership of property  of deceased owner on basis of his will.

Jayanta Bandyopadhyay   11 September 2023

Many thanks.

Although end purpose I.e. donee getting clean titleship in both the options, my query is based on one journal [ I am having Finance background] that Probate is a Court declaration towards whole world whereas gift deed remains confined within donor and donee families. I would like to clear my doubt on this. Rgds

N.K.Assumi (Advocate)     14 September 2023

Gift is transfer inter vivos, made or given between living people, whereas Probate is official proof of a will, that operates after the death of the testator.


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