Sir,
(1) Me and my wife are senior citizens. We live in our own independent house in chennai. The title to the house property
is jointly held by both of us, Our only son (who is married), is to inherit this house property after our lifetime.
When our son inherits, what is the stamp duty payable for transfer of title upon inheritance after our lifetime ?
(2) If we make a deed of settlement in favour of our son to settle the house property, will it be a cheaper option
from the stamp duty angle compared to (1) above.?
(3) Assuming we make the deed of settlement in favour of our son, can myself and my wife secure our right to
stay in the same house till our lifetime by entering into another agreement with our son ? And is it necessary
to register this other agreement ?l
Many thanks in anticipation of your valuable advice, and best regards !
Ranganathan