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sanjay srivastava   15 May 2018

Baying minor property

Hello, i am baying one minor flat, now advocate ask the seller to make a FD of the 33% of the property value. but seller refused to do the same. now the seller ask me to pay the FD amount. pls help me in this regards.



Learning

 3 Replies

Adv.Balachander Reddy (High Court Advocate IPR Attorney and RTI Activist)     15 May 2018

PURCAHSING OF PROPERTY FROM MINOR IS VERY RISKY.

CASELAW: MOHORI BIBI VS.DHRAMADAS GHOSH..

Solicitor Chirag Shah (Advocate & Solicitor)     15 May 2018

You need the permission of the Court when the sale of the property is of the minor.

As rightly pointed above the said judgment is the landmark judgment with regards to the transaction with the minor.

Important Point to be considered that the Sale should be in the Interest of the minor

.It is Risky because the minor has the option to ratify the same when he attends the age of majority.

Regards,

 

sanjay srivastava   15 May 2018

Thank you for your reply. 

My advocate ask me to get the Fixed Deposit done from  the parents in favour of mionr of 33.3 % of selling value.  then i can process the same for the Registration.

I want to now that the Fixed deposit can be withdrawn after the registration process complition?? 

 

 


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