When you buy a property of your own it is good to register a Will though it is not compulsory and if the permanent land is fraction of the wealth being donated. Many authorities like Municipal Corporation of Delhi also insist on the registered Will to transfer the land to the authorized inheritors. The registration of the land or the property can be done with a nominal fixed price at the office of the registrar or in the sub-registrar office, here the registration will be according to the value of the property, the values also differs in some cases and in some places or in localities. If the buyer purchases the property then the seller must also sign the documents and the buyer should also sign the documents then only the property gets registered. Later buyer can register a Will on the property after all the documentations are done by the two parties.
The Will of the property can be written on the plain paper and shall be presented the sub-registrar office and there will be no stamp duties to be paid for writing or registering the Will in the registrar office. Proof of the validity of the Will or sequence certificate is compulsory when the land is transferred, if the Will is not registered. The value to get these documents might run up to 4% of the land value. The registered will be customized only by the addition, which will be the extra to Will or to a fresh Will. Both of these should be registered to be considered valid.
Source: NIMMA BENGALURU
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