Difference between Gift Deed & Will?

A Gift Deed and a Will are legal instruments used to transfer property, but they operate in different ways.

A Gift Deed is a voluntary transfer of property made during the lifetime of the owner, without consideration. Once executed, accepted, and registered, the transfer is immediate and generally irrevocable, and the donor loses all rights over the property.

A Will is a declaration of how a person’s property should be distributed after their death. It does not create any immediate rights and takes effect only upon the death of the testator. A will is revocable at any time and does not require compulsory registration.

In short, a gift deed transfers ownership immediately, while a will operates only after death.