Should I transfer my property to my children by a will or by a gift deed?

Description

You want your property to go to your children or another person, and are unsure whether to make a will or execute a gift deed now. Each has different costs, tax and stamp duty consequences, and risks of family disputes. This answer compares the two side by side under Indian law, including the formalities each requires, whether registration and probate are needed, especially in Uttar Pradesh, and how to protect yourself if you choose to transfer during your lifetime.

What the answer covers

• When ownership passes under each option and whether you can change your mind
• Formalities for a valid will and a valid gift deed
• Registration, stamp duty and probate compared
• Choosing witnesses to reduce future disputes
• Special points for ancestral property and for Muslims
• A side by side comparison table

General legal information, not legal advice. Instant PDF after payment.