once gift deed has been executed minor would be absolute owner of the property

2) property standing in name of minor cannot be attached

3) if however gift deed has been executed to evade his creditors they can take legal proceedings to set aside such transfer and for attachment of the property

4)In a suit falling under Section 53 of the Transfer of Property Act, as this suit is, the only issue is whether the transaction was made with intent to defeat or delay the creditors of the transferor and if it was so made it shall be voidable at the option of the creditors so defeated or delayed

During the time of borrowing money from you if the property in defaulter name then u can attach if not u can't :) thanks :)

Hi, in such cases it has to be seen whether the property was transferd after he became a defaulter ..if it was done after he became a defaulter it can be challenged in court

Yes, there is no legal impediments in attaching the property under section 13 of the SARFAESI Act.

The transfer of minor's property is not void but voidable at the option of the minor in attaining majority.

Until and unless minor set aside the deed on attaining majority the bank can proceed to recover loan by attachment and sale.

1. Was the said property mortgaged with the lending Bank before its title was transferred in favour of his minor child?

2. If yes, then the said transfer of title of the property stands to be invalid as per law since mortgaged properties can not be dealt with by the mortgagor without the written consent of the mortgagee bank.

3. If the said property was not mortgaged with the lending Bank or was not attached by any court order, then the said transfer of title of the said property in favour of his minor child is absolutely valid and legal.

Yes, if same property mortgage,

A. The bank or any financial institution or lender has reserved fundamental right over the property once a charge created over the property by virtue of loan. Therefore, nobody deprive the rights of the bank or lender by creating right in favour of minor or any person through registered documents. However, in the absence of any specific condition towards alienation of the property during the course of loan existence, these type of transaction cannot be cancelled. Hence, you need to verify the loan's agreement or terms and condition of the Mortgage Deed as to whether any specific provision or clause prohibited the property transfer/alienation during the course of loan?. Hence, NOC from the bank is mandatory if any condition was highlighted in the agreement.

B. The bank or any financial institution or lender can claim the loan amount in the event of default committed by the borrower. Moreover, these immovable properties can be attached by way of the Court order or Debt Recovery Tribunals as per the terms of the Mortgage Deed or loan agreement or as per the prevailing law. You can recover the money after the auction sale completion and return the balance amount to the borrower after the deduction of loan amount with interest.

If the gift deed has been executed then the minor becomes the owner of the property and therefore property of the minor can not be attached in this case.

If you think that the property has just been transferred to overcome the liability then you can challenge the gift deed challenging the intent of the transfer.

Regards

No, the borrower ought to hypothetical his property against the loan taken by him.

You cannot go for the attachment of minor's property for default of their guardian.

in case loan is taken for purchase of this property the property of minor can be attached .

Minors property cannot be attached

The property in the name of minor child cannot be transacted in any manner without prior permission of the court competent.

Any such move is not tenable in law.

The loan advanced on the basis of this property document itself is invalid and illegal.

Yes