Hi,
You can set up a Valid Will at a law firm to indicate your share of the property ownership to be willed to your son solely upon your demise. If I am not wrong, you need to change the joint tenancy ownership status to tenancy-in-common as well while doing the will. This could mean your wife needs to agree to this. My law firm friend will be able to advise more.
Inheritance of residential property typically does not attract buyer stamp duty and estate duty or any inheritance tax, so doing a Will should be the optimal solution based on your info shared.
Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at
97432395
for a more in-depth discussion :)
May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more
Warm Regards,
Ivan Ng Realtor
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