Settelment deed v/s gift deed in mumbai

1) Yes there lot of difference between gift deed and settlement deed not only in Mumbai but globally which is an academic query.

2) Yes, it is possible to do a settlement deed for immovable property not only in Mumbai but any wherein Woldwide. 

3) Engage/contact local lawyer

Could you please elaborate what are the major differences  between Gift Deed & Settlement Deed in the case of immovable property transfer to daughter or son.

Appreciate your response. Thanks 

Could you please elaborate what are the major differences  between Gift Deed & Settlement Deed in the case of immovable property transfer to daughter or son.

Appreciate your response. Thanks 

@ Lakshmydevi: The definition of Gift Deed and the Settlement Deed as per law are given below:

Gift” is the transfer of certain existing moveable or immoveable property made voluntarily and without consideration, by one person, called the donor, to another, called the donee, and accepted by or on behalf of the donee.  Acceptance when to be made.—Such acceptance must be made during the lifetime of the donor and while he is still capable of giving. A Gift Deed must be in writing, witnessed by two competent persons, and registered before the competent authorities. The Donor must have title to the properties sought to be gifted.   The concept of acceptance of the Gift is of paramount importance. If there is no valid acceptance, there is no Gift.   If the donee dies before acceptance, the gift is void.

Settlements

A "Settlement" is any non-testamentary disposition, in writing, of immovable property made by one person (known as the "Settlor") in favour of another person (known as the "Settlee") in any one of the following circumstances:  A Settlement may be drawn up for some consideration, although it normally would never reflect the true market value of the property in question.  Please note that you are entitled to impose conditions when you give a Gift or a Settlement, and you are entitled to reserve the right of revocation to yourself in the event that those conditions are not performed.

In the absence of imposition of any such conditions, a Gift or a Settlement cannot be revoked.

A Gift or a Settlement can also be challenged on the ground that the Donor or the Settler was either compelled or coerced into giving such Gift or Settlement, or that he did not have the mental or the contractual capacity to give such Gift or Settlement.

In the absence of disputes within a family, and in view of the very favourable stamp duty tariffs applicable, a Settlement is surely the best way of conveying property within a family.

Thank you very much for the clear explanations on this gift deed and settlement deed. It is understood in either case regidtrstion with registration authorities is a must. Can you please let me know what are the charges for registering  the gift deed  and stamp duty. I could get the details for the same for settlement deed in TN Govt web site. The details for the gift deed are not found. Please be informed that the gift deed is from mother to daughter or viceversa for the immovable property.

What is meant by valid  acceptance . Is it registering the property by the receiver of the gift in her name.

Thanks in advance for the response.