Validity of document
jangam ramu
(Querist) 07 March 2012
This query is : Resolved
Dear All,
I need a legal advice on the following:(Additional Point)
We have jointly purchased the property under a sale deed executed in our favour by Mr.X and Mr.Y being minor rep.by father and natural guardian Mr.Z rep.by their general power of attorney holder Mr.ABC and the sale deed was registered in the office of Sub Registrar, Hyderabad.
Mr.X and Mr.Y(being minor rep.by father & natural guardian Mr.Z) executed general power of attorney in respect of the land in favour of Mr.ABC and the same was registered in the office of Sub Registrar, Hyderabad.
Mr.Y (minor) purchased the land under a sale deed executed in his favour by Mr.PQR and the sale deed was registered in the office of Sub Registrar, Hyderabad.Now the minor has become a major of 21 years
Now we want to put the property documents as collateral security to bankers. Kindly provide the legal opinion.
ajay sethi
(Expert) 07 March 2012
you have already purchased the property . you must have done due diligence before purchase of property .
you have to make application for bank loan . bank only on being satisfied that property has been validly transferred will accpet title deeds as collateral security
ajay sethi
(Expert) 07 March 2012
was permission of court taken before sale of property by guardian?
section 8 of hindu minor and guardianship act Powers of natural guardian
(1) The natural guardian of a Hindu minor has power, subject to the provisions of this section, to do all acts which are necessary or reasonable and proper for the benefit of the minor or for the realization, protection or benefit of the minor's estate; but the guardian can in no case bind the minor by a personal covenant.
(2) The natural guardian shall not, without the previous permission of the court-
(a) mortgage or charge, or transfer by sale, gift, exchange or otherwise, any part of the immovable property of the minor, or
(b) lease any part of such property for a term exceeding five years or for a term extending more than one year beyond the date on which the minor will attain majority.
(3) Any disposal of immovable property by a natural guardian, in contravention of sub-section (1) or sub-section(2), is viodable at the instance of the minor or any person claiming under him.
(4) No court shall grant permission to the natural guardian to do any of the acts mentioned in sub-section (2) except in case of necessity or for an evident advantage to the minor.
adv. rajeev ( rajoo )
(Expert) 07 March 2012
If it is minor's property then court permission is necessary to pledge the property, but such loan if it is only for the benefit and to protect the interest of the minors, otherwise court wont grant permission to sell / alienate the property.
Nadeem Qureshi
(Expert) 07 March 2012
I also agree with Mr. Ajay Sethi
Raj Kumar Makkad
(Expert) 07 March 2012
In case you have purchased the property duly owned by X & Y both minors without the specific order of the court, no valid transfer has been made and resultently you have not become its owner and minor on becoming major can duly challenge the sale deed and in that situation the sale deed shall get set aside and you shall repent at that time.
It is still time to take the sellers in your confidence and persuade Z to obtain court permission and thereafter a curation deed may be got registered.
jangam ramu
(Querist) 07 March 2012
Sir, the minor has become a Major now. What could we do now
Guest
(Expert) 07 March 2012
What provisions were made in the GPA by his father on behalf of his minor son? In fact, the GPA to another person, as made by the guardian during minority of the co-owner, should automatically have stood annulled on attaining majority by the co-owner of the property.
Kirti Kar Tripathi
(Expert) 07 March 2012
when the fact regarding execution of sale deed come into the knowledge of minor,who attained majority.
ESTHERPRIYA
(Expert) 08 March 2012
Try to get a Ratification Deed from the said Minors who are attained majority now for the sale done during their minority.
