Hi, we have to go through the entire document to give clear opinion, but one thing is sure No one can't enter into contract when a person is minor and it is clearly barred by law.
Minor involved in Development agreement and GPA
I purchased a property a residential apartment . the DAGPA is done between 2 brothers among them one is a minor ( 16 years when the GPA is done). when i approached the bank they rejected the loan saying that the GPA is invalid as Minor is involved in it. the minor who is involved attains 18 years by 02-june 2014. so is it advisable to go for the property . please suggest.
Asked 10 years ago in Property Law
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3 Answers
dont purchase the property . the fact that bank rejected your loan application should open your eyes to risks involved in purchase of such a property .
Was the relinquishment deed made by the guardian of the minor before selling the property to you? The property of a minor cannot be disposed of in this manner. Get the agreement perused by your lawyer to ascertain if the ownership rights will stand transferred to you or not.
