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DEED"Deed" is a formal, written and signed legal document that grants the guarantee of certain rights over an object, al...
01/07/2022

DEED
"Deed" is a formal, written and signed legal document that grants the guarantee of certain rights over an object, allowing them to own it or confirms an agreement between parties whereby an interest, right or property, or a binding obligation is created or confirmed. It works like legally binding commitment to accomplish something.

The essential elements of valid deed are:

1. It must be in writing.

2. It must be signed.

3. It must be expressed to be a deed.

4. It must be witnessed by at least one such person who is not a party to the concerned deed.

5. It must be delivered to the other party.

The only significant difference between a deed and an contract is that

1. Deeds have to be written, whereas a contract can be verbal and written,

2. Contracts require ‘consideration’ (i.e. something is given in return),

3. Deeds do not deeds must state that there is an intention to be a deed

4. Deeds have a statutory limitation period of 12 years vs six years for a simple contract.

5. Deeds are required in certain types of transactions, including:

transfer property ownership: movable or immovable,

Sale Deed, Mortgage Deed, Lease Deed, Gift Deed, Conveyance Deed.

WILLAccording to Indian Succession Act, 1925 “Will” means the legal declaration of the intention of a testator with resp...
24/06/2022

WILL
According to Indian Succession Act, 1925 “Will” means the legal declaration of the intention of a testator with respect to his property which he desires to be carried into effect after his death.

“codicil” means an instrument made in relation to a Will, and explaining, altering or adding to its dispositions, and shall be deemed to form part of the Will;

“probate” means the copy of a Will certified under the seal of a Court of competent jurisdiction with a grant of administration to the estate of the testator;

“executor” means a person to whom the ex*****on of the last Will of a deceased person is, by the testator’s appointment, confided.

At Common Law, an instrument disposing of Personal Property was called a "testament," whereas a "will" disposed of real property.

According to the Indian Succession Act, the will is a legal wish of the person writing it, of how he wants his property to be distributed after his/her death. A will is a document made by a testator (a person making a will) before his/her death.

The will expresses the wishes of a testator on how he/she wishes his/her property to be distributed after death.

The document becomes legally enforceable only if it is written and signed by the testator and at least two witnesses who have seen the testator signing the will.

It comes into effect only after the death of the testator and has no significance during his lifetime.

Though it is not compulsory to register a will, the testator may choose to register it with the Registrar or Sub-Registrar of the area under whose jurisdiction he/she resides. It is always advisable to register a will as registering gives it a legal backing in case of any disputes which may arise in the future, such as disputes regarding the validity of the will. The testator can also choose to keep the will in safe custody. The will can be withdrawn at any time.

21/06/2022

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