Legal Question in Real Estate Law in India

My father is ~80yrs . We hv a property in Mumbai. My father Wants to put only my name in the Will. My sisters have no objection. I want to get the Will registered only after his demise. Would it be ok. Else I may hv to pay gift tax right? Please guide


Asked on 3/16/13, 11:09 pm

4 Answers from Attorneys

go for registered will

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Answered on 3/17/13, 1:10 am
uttam Tibrewal

dear client...

I have already replayed your question... You are wrong Get the WILL registared as soon as it is made .. Get the Will made by an Lawyer... if you intend to make mistake then its of no use...registered WIll has more validity... after demise of your father you need to probate the WILL in order to be the legal heir ...

if you need help in regards mail me at [email protected]

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Answered on 3/17/13, 1:26 am
Fca Prashant Chavan Expert Edge LLP

17.03.2013

Dear Sir / Madam,

Gift Deed and Will are two different modes for transfer of title in a property to a legal heir. A Gift Deed is made when the transfer of title to the property is done during the lifetime of the donor. A Will is made when the transfer of title to the property is to be done after the demise of the testator (maker) of the Will.

A Will need not be registered to be legally valid.

Regards,

FCA Prashant Chavan

Mumbai

(You can also mail me for any further on-line advice at [email protected])

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Answered on 3/17/13, 7:05 am


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