• Minor involved in Development agreement cum 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 3 years ago in Property Law from Hyderabad, Andhra Pradesh
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.
Pradeep Bharathipura
Advocate, Bangalore
4372 Answers
180 Consultations

4.3 on 5.0

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 .
Ajay Sethi
Advocate, Mumbai
36352 Answers
2014 Consultations

5.0 on 5.0

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.
Ashish Davessar
Advocate, Jaipur
21564 Answers
577 Consultations

5.0 on 5.0

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