Ratification of the property transactions by a major turned minor
Hi,
Good Evening,
I have few follow up questions regarding my previous question at this link
https://www.kaanoon.com/23998/property-purchase-agreement-of-sale (just in case link does not open, following is the background)
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Recently I have performed a Agreement of Sale for a property.I made Agreement of Sale for an amount of 33% of the market value of the property.
I have applied for bank loan for the rest of the amount, while the bank loan is approved based on my income and techincal aspects of the property, its stuck in legal clearance.
Bank has an argument that during 2004, property was transferred to a minor by his father as Gift Deed (minor was 10 years old in 2004) and the father himself received this property via Gift Deed by his mother (grandmother of the minor).
Later due to some reasons, the mother cancelled the gift deed in the subregistrar office and the father has cancelled the gift deed on his son's name (minor's gift, minor was 11 years old in 2005).
Now that minor child is a major for 3 years.
After that the lady has sold to some third party and subsequently there were 3 transactions.
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The bank is saying, loan can be sanctioned if I get the ratification done on the property by the minor child whose age is now 21 years.
Following are the questions.
1) The child age is now 21 years, can he be considered as a major ? During the gift deed on his name his mother was appointed as the natural guardian (mentioned in Gift Deed), there are no court orders for the said guardian appointment. Can the child be considered as a Major and will his ratification be valid?
2) Gift Deed and the Cancel Deed are done in sub registrar office (SRO) A, now I am planning to do the ratification in SRO-B, can this be valid or the ratification has to be done only in the SRO where the original or principal deed were executed?
3) The "Agreement of Sale" was done for 33% of the property market value on a Rs 100 non-judicial bond paper, if I want to put a legal case(if i want to cancel the transaction and get back my money) do I need to register this "Agreement of Sale" in the SRO office? Without registration can it be legally valid and can I file the case?
Your answers are highly appreciated.
Thanks,
Sai
Asked 9 years ago in Property Law
Religion: Hindu