Sale of school and its assets( aided school).

Querist : Anonymous (Querist) 16 December 2011 This query is : Resolved
Sir,
Due to problems a school in the ownership of eight family ownership members is sold to an outsider.
CAN WE INCLUDE IN THE SALE DOCUMENT A CLAUSE disqualifying all or any one of the present eight family members or their relatives to again form part of the management by acquiring or purchasing share in the school assets and property at a later date.

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Raj Kumar Makkad (Expert) 16 December 2011
There is no need to insert such clause as the same is the prerogative of the buyer either to include or not and otherwise also, you cannot ban fundamental right of a any citizen.

Querist : Anonymous (Querist) 16 December 2011
sir,
Thank you for your answer and nowplease inform me
What is the way out to safeguard the interest of all the eight family members as management of school.There is a chance to cheat by one or two memebers in the family to all others.
So what is the intelligent way out to do the deal.

Raj Kumar Makkad (Expert) 17 December 2011
You should say to buyers that the sale-deed should not contain any term out of sale agreement as this is sale of immovable property and not an agreement for other matters.

Even if any of such term is forcefully mentioned therein, none of you is bound by that illegal term.

prabhakar singh (Expert) 17 December 2011
How a school property is privately owned that too of an government aided school???

It sounds strange.Is there any registered society of these 8 families.???????

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