Hi,

I am thinking of purchasing property under my son's name. He is above 21. I am thinking that this will eliminate transfer fees if something happens to me (I do have a Will with my son as beneficiary). Also, looking at the 50% first time buyer stamp duty discount for property < RM1M. Plan is to buy cash, no loan.

Is there any cons of doing this or any other benefits, either for me or my son? Obviously he will use up his 'first time buyer' privilege in case such benefit is offered in future.

Advise and opinions appreciated. Thanks.

Yes, first time home buyer gets stamp duty waiver for property valued 500k and below.

Yes. Google.

That is just an announcement. It is not valid unless and until it's gazetted. So as far as I am concerned, for now, there is only stamp duty exemption for 1st home buyer 500k and below.