The heritage set is not tradeable unfortunately! The stats of the heritage set will be the equivalent of a blue set at the level your character is at. Your CP/EXP will increase by +10%, and move speed will increase by +5% if you have the entire set.
These items will not expire at all, but they will stop growing at lv60. This means, when your character gets to lv61, the heritage set will stay at lv60 and will not be able to grow anymore.