Settlement deed with life interest
I am T.Jamuna, aged 85 years and widow residing in Chennai, Tamilnadu.
I need your opinion regarding Settlement Deed executed by me. When I become more sick, my son only takes care of all my needs. I have a daughter who is elder to my son. She got married and well-settled in Chennai. I had given money whenever she requires for purchasing a land and constructing a building there on and I had given my savings to her whenever she needs.
I have more affection to my only son and daughter-in-law, who takes care of me . Due to love and affection, I had executed and registered a settlement deed for my only property where we live now, in favour of my son in the year 2019 retaining my life time interest. This is a self-acquired property and I am the sole owner of this property since 1963.
I would humbly request you to kindly advise whether any legal problems will arise after my demise in transferring the patta , tax receipts etc., to my son. Will the Chennai Corporation raise any issues in this regard. Will there be any problems legally on this. Please advise.