Agreement for sale

sandeep nair (Querist) 04 April 2014 This query is : Resolved
I had purchased a flat in the year 2010 from a lady who is a widow.The agreement is registered between her and myself for which I took a housing loan from a NBFC.At that time she had a minor son and the NBFC insisted on a affidavit stating that she and her son are the legal heirs to the property. Now i am opting for a balance transfer for the same loan from a leading private bank but now the bank wants an affidavit from the son since he has turned a major.I am not able to contact the seller since a long time has passed.My question is,Is an affidavit required and what happens If I am not able to make one?Will it be a hindrance in future if I am selling the same.please guide.

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Devajyoti Barman (Expert) 04 April 2014
Bank is right. Sale of minor's share without court permission is voidable at the option of the minor.
If he gives affidavit then he can not challenge it later on and hence it is required now.

Guest (Expert) 04 April 2014
The Private Bank seems to be more cautious .You need not try for affidavit at this stage since it might create confusion and invite trouble.Better Convince the Bank or try with other banks

Dr J C Vashista (Expert) 05 April 2014
I fully agree with the experts.
The agreement to sale by widow, on behalf of her minor son, is void ab-initio.

Rajendra K Goyal (Expert) 05 April 2014
Agree with the experts.

T. Kalaiselvan, Advocate (Expert) 05 April 2014
I agree with the opinions rendered by experts in this regard. Selling a minor's property is invalid without court's permission, hence now since the minor has become a major, his consent through an affidavit will be equal to a ratification of the sale deed.

sandeep nair (Querist) 06 April 2014
With reference to the previous question the NBFC had made an affidavit (registered and stamp duty paid)in the name of the minor with a no objection for selling the flat when he was a minor.Is that not sufficient?
If I still have to make the affidavit where can I get the draft for the same?