Hi, can we buy a flat in my son's name? he is only 4.5 yrs old.If can buy means please let me know the formalities..
Rathikala V (HR) 15 May 2012
Hi, can we buy a flat in my son's name? he is only 4.5 yrs old.If can buy means please let me know the formalities..
adv. rajeev ( rajoo ) (practicing advocate) 15 May 2012
Yes, you can purchase the property in the name of your son, but you cannot sell it.
Adv.R.P.Chugh (Advocate/Legal Consultant (rpchughadvocatesupremecourt@hotmail.com)) 15 May 2012
Yes a minor can always be a buyer/transferee in a transaction. But once you buy as Ld.Raju said you won't be able to sell without permission of the court. And permission would be given only if sale is for the benefit of minor.
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