Difference between settlement and gift deed


What is the difference between Settlement Deed and Gift Deed?

My Aunty [wife's mother] is living in our home town, but we are living in an another state. Aunty wanted to GIFT her home to my wife.

As per earlier post in this [Property] forum "Receiver acceptance is mandatory for Gift Deed".

We both [Myself and Wife] cannot travel together because of children's studies.

Our plan was to prepare a Gift Deed when I [alone] visit to our home town.

It can be signed and completed upon my wife's home town visit [after couple of weeks].

When I discussed about this with a "Document Writer" he suggested to prepare a SETTLEMENT DEED.

He told us that it doesn't require receiver's acceptance or signature. Only the donor and two witness will be enough and the Setllement Deed will be non-revokable.

Is the above suggestion true?

 
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ADVOCATE & LEGAL CONSULTANT

Both documents are similar 

 
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Thanks Jayakumar for the quickest reply.

Is the settlement deed non-revokable?

 
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ADVOCATE & LEGAL CONSULTANT

yes the Settlement Deed is irrevokable  


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