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Gift Deed vs Will Deed

Gift Deed importance :

1. immediate transfer of ownership
2. no monetary consideration
3. legal binding
4.clear documentation
5. protects the interest and rights
6. registration mandatory
7. minimizes disputes
8. Tax benefits
9. less stamp duty

section 126 of trasfer of property Act 1882 :
we can revoke Gift Deed, while writing Gift Deed one clause should be mentioned ," it can be revoked if terms and conditions not fulfilled".

important contents of the Gift Deed:

1. place and time to be executed
2. complete details of the property
3. two witnesses must
4. relationships between donor and donee should be mentioned

difference between Will Deed and Gift Deed
ownership can be easily transferred and enjoyed immediately by the donee in gift deed
but in will deeds only after the death of the donor
will deed can be revoked at anytime, but if Gift Deed will revoked only when claused mention and when there is condition mentioned in the deed.

case citations :

1. CLL ASHWINI KUMAR/UOI 2019 2
SCC636

2 WPNO.25471/24
GOVIND LODHI/ STATE OF MP

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