I am purchasing a property with a small monetory compensation from my son who is married. I would like to have a joint ownership of this property with my son so that post my eventual demise, it should be easier for my son to transfer the property to his name. I will be making a registered will in this regard. However, in case, God forbid and i outlive my son or if there is early death of my son, i would like to have a clause wherein the whole property is fully transferred back to me and i become 100% sole owner of that property again. I do not want my sons legal heirs ( which as per hindu inheritence law 1956, includes son's children, his wife and his mother,) to have a claim to this property.
Is there a clause as per Indian law which allows for "joint ownership of a property with rights of survivorship" meaning whoever survives amongst the coowners of the property gets 100% right of the property post demise of one of the joint owners?
Appreciate the feedback from forum community members