Wife's Flat: Will is Cheaper, Safer Than Gift Deed for Ownership

• A Kolkata resident seeks to transfer a flat to his wife, ensuring her sole ownership after his death and excluding children.
• A registered will is identified as the most cost-effective, easiest, and safest method for property transfer.
• Registering a will in Kolkata avoids high stamp duty, capital gains tax, and the need for High Court probate.
• A gift deed is less suitable due to significant stamp duty and immediate transfer of ownership, which may not be desired.
• A will allows the husband to remain a co-owner during his lifetime, with the wife gaining sole ownership upon his demise, preventing disputes.

Why It Matters: It guides on the cheapest, safest way to transfer property to a spouse.