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NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Tools for Estate Planning

Caselet: Mrs. Iyer, aged 70, owns a flat and has two sons. She gave the flat to her elder son by a registered gift deed on 1 June, handing over possession the same day. The son accepted it. She later made a will leaving the same flat to her younger son. After her death, who owns the flat?

The elder son owns the flat, because the registered gift was completed and accepted with possession during her lifetime. She no longer owned the flat when she made the will, so it could not pass to the younger son.

  1. AThe younger son, as the will is the later document
  2. BBoth sons equally, as the documents conflict
  3. CThe elder son, as the gift was complete during her lifetimeCorrect
  4. DHer estate, until a court decides

Explanation

A valid gift is complete when made by a registered deed, accepted by the donee, and possession given. The flat therefore stopped belonging to Mrs. Iyer before she made the will. A will can only dispose of property that the testator owns at death. The later will is ineffective for this flat.

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