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.

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

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

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. 

Grand father can revoke any time during his lifetime 

settlement deed is better option 

it cannot be revoked unilaterally 

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.

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.

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

- 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 . 

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.

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. 

Dear Client,

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

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.

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.

Settlement deed is better.

G.Rajaganapathy 

High Court of Madras 

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

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

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.

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 

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.

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

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.

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. 

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.

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. 

- 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. 

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

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.

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

Gift deed. 

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