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Dev (na)     27 September 2013

Probate vs gift deed

Dear Readers ,

My father did a registered will in 2008 and as per the same 100% property will be in my name and he has expired in 2010.

Now I am having my mother and my younger married sister . They were not aware of the will , which I explained recently and I have negotiated in terms of money with my sister to get her consent for file petition for the probate. I am interested to develop the partial land and my developers suggested to go for gift deed instead of probate the will as this will take very less time compare to probate .

Please do suggest , Is there any % of problem may arise to go gift deed option in place of probate the will .I don't want to put myself in any problem which will take more time to become owner of the said property .

Post development , if the buyer do searching , whether they will come to know that a will was exists on this land and that has been not opted for probate . 

Yes, I am interested for faster process but that should be problem free . Please share your valuable suggestion .



Learning

 4 Replies

A.SUMATHY 9380902017 (LAWYER)     27 September 2013

Your builder advice is correct, but not gift deed i.e. release deed from your sister and mother.

If you go probate i.e. very expense (3% of  value of the property) and lot of procedure for probating will.

It will take minimum 6 months.

Dev (na)     28 September 2013

Thank you very much for your reply on this , please do share your views on the legal area as I am surpress the will and opt. for the gift/release deed option . Will I face any problem due to change the option ( Release deed in place of Probate ) to get the same things done in future also . Also let me know , how much time will take for the release deed .

Dev (na)     30 September 2013

Waiting for your valuable Suggestions on my queries .

A.SUMATHY 9380902017 (LAWYER)     01 October 2013

If your property situated in  Chennai, Mumbai, Delhi & Calcutta your will is no legal validity till probate. 

No problem even both the documents ( i.e. will and release deed) available in same property.

If your Mother and sister ready to release the property it will take 2 & 3 days only.


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