Q: I own a piece of land that I purchased. I would like to transfer it to my wife's name, but I am unable to do so at the moment because I don’t have the funds to cover the expenses. My questions are:
1. If I verbally inform my wife that I am giving her this land, would this transfer be legally valid even though the documents are still in my name?
2. If this verbal transfer is valid, can I inform my parents and siblings that the land belongs to my wife? I have no children, and I want to ensure that they have no claim to it in case I pass away.
3. Transferring property can sometimes take a long time. Is it possible for me to create a will with a notary to address this matter?