What is difference between transfer deed and transfer of property by will ?
A Will differs from a deed in the following respects: (i) a deed operates eo instanti, i.e., from the date of its execution; a Will comes into operation on the death of the testator; (ii) a deed is ordinarily irrevocable, unless there is an express power of revocation; a Will can be revoked at any time by the testator during his life time. It is ambulatory and it becomes effective and irrevocable on the death of the testator; (iii) in case of mistake in a deed, the Court has power to rectify it; a Will cannot be rectified by any Court of law. No consideration is required for making a Will. Thus disposition of property takes place posthumously after the death of the testator. Therefore, there is no transfer eo instanti as in case of any other deed like a sale deed, gift, exchange, mortgage, lease or assignment. Koragappa Gowda Vs. Jinnappa Gowda and Ors. Citation: MANU/KA/0047/1998,ILR 1998 KAR 436, 1998 (1) KarLJ 402