• Will or settlement deed, which is better

My grandfather owns a property (ancestral property) and he is in the plan of dividing the property. My grandfather have 2 children. Son (my father) and a daughter. His daughter is willing to give her shares equally to both my father and grandfather by a gift deed. 
At this point these two persons (my father and grand father) are the only share holders of this property and will be dividing (undefinite) the land equally and registering in their names.
Again, my grandfather has an idea to to write a Will that will transfer his part of land to me after his death.
So now can he cancel the Will (without having the original land document in his name) and write a new Will to transfer the property to someone else ?. Instead of writing a Will, is it good/possible to register a settlement deed that will transfer his shares to me after his death ? or any other options ? Can this registered settlement deed also be revoked by him?
Asked 1 month ago in Property Law
Religion: Hindu

2 answers received in 10 minutes.

Lawyers are available now to answer your questions.

31 Answers

1. WILL shall be effective only AFTER death of WILL maker. Such WILL can be changed every week and is further challengable by other legal heirs.  Hence unreliable.

2. Settlement Deed duly executed becomes effective immediately during life time of all the parties. Dead people cannot execute settlement deed and neither they can partake any benefit out of it.

3. Registered Settlement Deed executed mutually & jointly is legally Final & Irrefutable and non-revocable, more so since property would have passed to be beneficiary parties immediately.

Hemant Agarwal
Advocate, Mumbai
5441 Answers
25 Consultations

5.0 on 5.0

Yes you can also go for settlement deed. But the same will attract stamp duty and registration to you. No it can't be revoked unless all are consenting

Prashant Nayak
Advocate, Mumbai
22417 Answers
49 Consultations

4.4 on 5.0

This best way is make partition deed and divide the property accordingly and from your grand father get signed conditional gift deed.

Ganesh Kadam
Advocate, Pune
11668 Answers
109 Consultations

4.9 on 5.0

1 Like Will even Family Deed of Settlement can be revoked before its acted upon. 

2. The land belongs to your grandfather.  Therefore let him take the decision. 

3. In the meantime concentrate in making your own fortune.  You will be more satisfied by this. 

Devajyoti Barman
Advocate, Kolkata
21680 Answers
311 Consultations

5.0 on 5.0

Grand father can revoke any time during his lifetime 

 

settlement deed is better option 

 

it cannot be revoked unilaterally 

Ajay Sethi
Advocate, Mumbai
79294 Answers
4742 Consultations

5.0 on 5.0

A family settlement deed is a document that comes into legal effect immediately upon its execution and registration, whereas a Will takes effect only upon the death of the Testator. A person writing a Will may cancel it or write a new Will any number of times during his lifetime. A registered settlement deed cannot be unilaterally cancelled. Both the settlor and the beneficiary have to jointly execute and register the cancellation deed. In your case, let your grandfather execute a settlement deed in favour of himself, your father and his sister clearly partitioning their respective shares. In the same settlement deed, let it be narrated that your aunt relinquishes her share in favour of your grandfather. Then, let your grandfather either execute a gift deed or write a Will in your favour in respect of his entire share.

Swaminathan Neelakantan
Advocate, Coimbatore
775 Answers
8 Consultations

4.9 on 5.0

Will may be executed upon self acquired property not on ancestral property. 

Please seek partition suit before Civil Court for equal division of property and after division may gift to your co-parceners with the consent of all.


Partition Suit is the best option in your case and will be trouble free in future.

Ramesh Pandey
Advocate, Mumbai
2538 Answers
8 Consultations

5.0 on 5.0

Anything could be possible... Better u tk ur claim.on ur own name

Roshan Khatri
Advocate, LUCKNOW
138 Answers

Not rated

- As per law, the said ancestral property of your grandfather should be divide amongst the sons and daughter .

- Since, the daughter is willing to give her share equal share , then she can execute registered Release /Gift deed in favour of brothers .

- After getting the said share , this property will be considered as self acquired property of the said two persons.

- Hence , your father can transfer the said property to anyone as per his own wish including you by way of WILL 

- During his life time he can cancel the WILL , and only last WILL is valid legally. 

- He can transfer you the said property by way of registered Gift deed , otherwise all the documents can be cancelled by him . 

Mohammed Shahzad
Advocate, Delhi
5531 Answers
51 Consultations

5.0 on 5.0

Will can be cancel at any time before death.

He can execute conditional gift deed that gift will complete after his death.

But than also he can cancel the gift. Same applies to settlement deed.

Yogendra Singh Rajawat
Advocate, Jaipur
21402 Answers
31 Consultations

4.4 on 5.0

always settlement deed is better than Will. since only after probating before the High Court you will be considered as the owner. but in settlement deed once you have registered you become the owner on the next second. 

yes there can be a clause can be added in respect of transferring the share after his death.

Only with your consent the settlement deed can be revoked amicably. 

Shiva Bharathy
Advocate, Chennai
78 Answers
1 Consultation

4.0 on 5.0

Dear Client,

It will be better to get the will drafted in in the name you. the need to be registered.

Jaswant Singh
Advocate, Gurugram
877 Answers
2 Consultations

4.8 on 5.0

Your grandfather can very well transfer his share in the property to anyone of his choice.

He can either do it by a Will or by executing a registered settlement deed with conditions for lifetime interest vested on him.

In my opinion it would be better that he transfers the proeprty by executing a rgistered conditional settlement in your favor becasue the Will can be cancelled anytime with or without your knowledge.

 

T Kalaiselvan
Advocate, Vellore
69328 Answers
929 Consultations

5.0 on 5.0

WILL comes into play only after the demise of the testator.

In your case, if you want to have clarity, let your grand father execute settlement deed after getting the property in his name.

Your concept of Will is not correct.

Better option for you is to get the settlement deed by your grand father.

S Srinivasa Prasad
Advocate, Hyderabad
2862 Answers
9 Consultations

5.0 on 5.0

Settlement deed is better.

G.Rajaganapathy 

High Court of Madras 

Rajaganapathy Ganesan
Advocate, Chennai
1804 Answers
8 Consultations

4.9 on 5.0

A registered sale deed or a gift deed can be revoked by him. A will can be challenged.

Rahul Mishra
Advocate, Lucknow
11560 Answers
20 Consultations

5.0 on 5.0

registered settlement deed cannot be revoked unilaterally by the donor especially when it is an unconditional settlement. 

Mohammed Mujeeb
Advocate, Hyderabad
18935 Answers
11 Consultations

4.5 on 5.0

1. Yes he can cancel the will and write a fresh will and make someone else as beneficiary of his properties after his death. 

2. This type of settlement deed cannot be executed.

3. He can execute a Gift deed in your favour during his life time with his life interest in the property.

 

Mohit Kapoor
Advocate, Rohtak
10685 Answers
7 Consultations

5.0 on 5.0

Grandfather can execute gift deed with life interest

 

he can enjoy property during his lifetime and on his demise you would be abolsute owner of property 

Ajay Sethi
Advocate, Mumbai
79294 Answers
4742 Consultations

5.0 on 5.0

Your grandfather may transfer his share either by way of a settlement deed or gift deed, if the transfer is to take immediate effect. Or he may leave a Will in your favour, which will take effect after his lifetime.

Swaminathan Neelakantan
Advocate, Coimbatore
775 Answers
8 Consultations

4.9 on 5.0

Gift deed is made absolute and the Donor by this can not preserve his life interest. 

Devajyoti Barman
Advocate, Kolkata
21680 Answers
311 Consultations

5.0 on 5.0

Conditional gift deed is better for you means donor and donee will accept gift deed and immediately take effect of the title of ownership transfer, but donor will enjoy property till his death.

Ganesh Kadam
Advocate, Pune
11668 Answers
109 Consultations

4.9 on 5.0

Please remember that a gift deed cannot be executed with any condition imposed in it.

A conditional registered settlement deed shall be the better option. 

Upon execution of registered settlement deed,  the property shall be transferred to your name from the date of execution of the settlement in your favor. 

However you can enjoy the benefits of the property only after the lifetime of the donor. 

The donor shall be in possession and enjoyment of the property including availing all the income out of the property till his lifetime. 

 

T Kalaiselvan
Advocate, Vellore
69328 Answers
929 Consultations

5.0 on 5.0

Gift deed .

Life time interest confers upon the person for use,occupation and enjoyment till his/her last breath.

The property would be transferred after the death of the person not during the life time.

Ramesh Pandey
Advocate, Mumbai
2538 Answers
8 Consultations

5.0 on 5.0

Gift deed? or Settlement deed - Both can be conditional. 
Transfer will be effective only after his death. And in his life time, he can cancel the deed.

Yogendra Singh Rajawat
Advocate, Jaipur
21402 Answers
31 Consultations

4.4 on 5.0

- For a Gift deed , there is condition of transfer of property at the time of execution, and a conditional gift deed is not suggested. 

- Hence, your grandfather can write a WILL in your favour and registered the same from the office of registrar. 

Mohammed Shahzad
Advocate, Delhi
5531 Answers
51 Consultations

5.0 on 5.0

Settlement deed. Yes in the said deed it will be immediately transferred. 

Prashant Nayak
Advocate, Mumbai
22417 Answers
49 Consultations

4.4 on 5.0

1. He should execute gift deed in your favour.

2. Yes life interest means ownership of property will transfer to you and he can live in the property till he is alive.

Mohit Kapoor
Advocate, Rohtak
10685 Answers
7 Consultations

5.0 on 5.0

he can execute gift deed with life interest. Life interest means right to enjoy the property including home, during once life time. 

Mohammed Mujeeb
Advocate, Hyderabad
18935 Answers
11 Consultations

4.5 on 5.0

Gift deed. 

Rahul Jatain
Advocate, Rohtak
5364 Answers
4 Consultations

4.8 on 5.0

A gift deed is better as the donee can get possession of the property in the donor's lifetime.

Rahul Mishra
Advocate, Lucknow
11560 Answers
20 Consultations

5.0 on 5.0

Ask a Lawyer

Get legal answers from lawyers in 1 hour. It's quick, easy, and anonymous!
  Ask a lawyer