• Loan for Development of minor's Property

Hi sir,
My name is Sudhakar,My father transfered a property to me and my son whose age is 15years,
Now we approched bank for obtaining housing loan,bank accepted the application and granted loan ,while depositing the tittle deeds with bank the Sub-Registar of our town rejected the execution of tille deeds with bank, since minior is involed in this sale deed he is asking permission from court,
Regarding this 
We require clarification
1.How to get permission from court
2.in how many days we will get permission from court
Asked 6 years ago in Property Law
Religion: Hindu

2 answers received in 10 minutes.

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12 Answers

You have to get  under Hindu Minority and Guardianship Act, sale of such property cannot be done without prior permission of the court.

"As per clause (a) of subsection (2) of Section 8 no immovable property of the minor can be mortgaged or charged or transferred by sale, gift, exchange or otherwise without the previous permission of the court,"


Therefore, the requirement under Section 29 of Guardians and Wards Act, 1860 is only to obtain a permission from the Court to sell the property of minors, for the person who has been appointed or declared as guardian of the property of the minor

Ganesh Kadam
Advocate, Pune
13008 Answers
267 Consultations

You have to make application to district court to permit you to mortgage minor share in property for availing bank Iowan 

 

2) it may take around 3 months or so 

Ajay Sethi
Advocate, Mumbai
99775 Answers
8145 Consultations

1. you can apply for the permission by filing a petition in this behalf under the guardian and wards act,

2. it will take a time of 1 year approx.

Suneel Moudgil
Advocate, Panipat
2386 Answers
6 Consultations

1You need to file for permission before the district court to take loan on the minor property and sign on his behalf. In application you have to mention and show that it is for the benefit of minor.

2. It may take 2-3 months or more for such permission.

Shubham Jhajharia
Advocate, Ahmedabad
25513 Answers
179 Consultations

See you need to pay for fee of lawyer and court fee as per state.

Shubham Jhajharia
Advocate, Ahmedabad
25513 Answers
179 Consultations

You need to apply and seek permission as per guardian and wards Act from court. 

It can take sometime depending on the said court daily board. You can mention it as urgent

Prashant Nayak
Advocate, Mumbai
34514 Answers
249 Consultations

Legal fees vary depending upon the lawyer engaged by you 

Ajay Sethi
Advocate, Mumbai
99775 Answers
8145 Consultations

Court permission takes times. Have to file civil suit for grant of permission to mortgage property of minor for his benefit.

In mortgage/bank loan, title deed dose not deposit with sub registrar but with bank. What is the role of sub registrar in loan ?

What title deed you are execute with bank ? Only agreement will execute with bank which will be notorise or loan form will fill for grant of loan.

Yogendra Singh Rajawat
Advocate, Jaipur
23079 Answers
31 Consultations

It cannot be mortgaged without the prior permission of the district court.

Permission is essential in case of minor's property.

You have to file a original petition before the appropriate court for the permission.

It depend on court proceedings.

Mohammed Mujeeb
Advocate, Hyderabad
19325 Answers
32 Consultations

1. You need to file a suit Under Hindu Minority and Guardianship Act to get permission from court.

2. You may get permission in 6 months.

Mohit Kapoor
Advocate, Rohtak
10686 Answers
7 Consultations

If you have become major by age then you may file a petition with documentary evidences to prove the same and seek court to declare you major based on the documentary evidences submitted by you, after which the registrar cannot reject your deed for registration.

The court permission can be got within three months since there is no one to object to this petition.

T Kalaiselvan
Advocate, Vellore
89977 Answers
2492 Consultations

You can contact a local advocate to know about the costs and the expenses for obtaining this declaration from court of law.

 

T Kalaiselvan
Advocate, Vellore
89977 Answers
2492 Consultations

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