Sir . My mother in law and my wife transferred their inherited property in the name of my twin sons through registered deed of gift in the year 2007 . My twin sons born in 2004 are still minors .now we r willing to develop that land into apartment and sale some residential flats . 40 or 30 percent of the apartment will still remain with the kids having valuation much more than bare land. And they will also recieve some rental income too . Can it be done ??? And how much time will it take for court to grant permission?? Plz help
Sir I have heard that guardian ship act does not allow even a natural father to sale minors property.but permission is still granted by court on account of benefit of child ....but it involves a fair bit of time . The problem is that my mother In laws building is very old and even repairs are not possible...plz help
Once gift deed is executed duly stamped and registered your minor sons would be absolute owners of the property
2) for construction of flats on the land and selling it to third parties you need court permission
3) it should not take more than 6 months to obtain court permission
You can develop the land , construct flats for sake to third parties but you need court permission
Court should grant you permission I'd repairs are not possible and house is in diplaidated condition
Hi
the mother of the children or any appointed guardian can approach the court with a prayer to sell the minor's property .
you can convince the court with the conditions as you mentioned which are favouring the welfare of the children
. court will grant permission.
it will take at least 6 months to get the order in the normal way, so instruct your lawyer about the urgency of the situation.
The legal guardian of the children, which would have been mentioned in the registered sale deed of the property on the name of the minor twins, have to apply for permission for selling the property with valid and genuine reasons before the court competent.
If the court is convinced then it may grant permission to this arrangement with conditions imposed therein.
Any act done without the permission of court would be invalid and illegal and against the interests of the minor children.
I have heard that guardian ship act does not allow even a natural father to sale minors property.but permission is still granted by court on account of benefit of child ....but it involves a fair bit of time . The problem is that my mother In laws building is very old and even repairs are not possible
Any act intended to do with regard to the property lying on the minor children name may have to be referred to the court of of law competent to grant permission for such acts proposed in the petition before the court.
It will not be time consuming, it may get disposed within three months, hence do not undertake any risk of doing anything on your own.