📚 Shri Ganpati Jurists Learning – Gift vs. Will in Property Transfers 📚
🔍 Key Legal Insights:
✔ Gift with Life Interest = Settlement Deed
When a property transfer is based on love and affection, and the donor retains life interest, it is treated as a settlement deed in the form of a gift—not a Will.
✔ No Unilateral Revocation
Once the donee accepts the gift through a settlement deed, the donor cannot revoke it unilaterally.
✔ Possession is NOT Mandatory
As per Section 41 of the Transfer of Property Act, delivery of possession is not essential to validate a gift. Even when the donor retains life interest, they remain only an ostensible owner, not the true owner.
✅ Understanding property transfers helps secure your legal rights!
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