Property purchase

tushar kamale (Querist) 10 October 2013 This query is : Resolved
Dear Sir/madam,

I am going to purchase one property , details as below,

1.Tenement having build up area of 1500sqft at Maharashtra
2. This is resale property.
3. Property value appro 50 lacs
4. Property is two year old.

While applying for bank loan , it was observed by the bank lawyer that in the sale deed between builder and purchaser (Mrs A).
Mrs A mentioned her daughter's son (age 8 years-minor ) as heir (varas) for the property while purchaser is Mrs A.This property is purchased with own earned money of Mrs A.

As per bank lawyer, there is court order required before selling the property as there is involvement of minor in the sale deed. Now Mrs A with some consultation have made a correction sale deed between builder & Mrs A, in which they have removed the name of heir (varas) while retaining only name of purchaser (Mrs A).

Further on basis of correction deed, they have removed name of heir (varas) form Satbara report & circle officer documents. Now bank has cleared the case and approved the loan.

Kindly explain me about the above case and whether it is legally acceptable.

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Raj Kumar Makkad (Expert) 10 October 2013
when your issue has already been settled, what remains now to understand?

The opinion of the lawyer for the banker is not correct as the role of varis starts only after the death of owner and therefore there was not need to ask for either the correction deed or the order of the court seeking permission for the sale of the property of the minor.