The bank says that there is a minor interest in the property and the seller should get a court permission. The seller's advocate says that since it is a self-acquired property and seller being the natural guardian of the minor, he can sell the property without a court order.
Please let us know if the minor interest in this case is definite and a court permission is a must?
The bank is right and the vendor's advocate is misguiding you.
Basically this property was purchased jointly by husband and wife, there by both have equal rights in the property. now the wife died intestate hence her share of property shall devolve on all her legal heirs equally. Her legal heirs are her husband and her minor daughter. Now since the property devolves on the minor daughter also, the minor interest is automatically created on the property. As per law, wherever a property involves minor's interest, the only authority competent to permit the vendor to sell the property belonging to minor child shall be a court of law. Therefore it is mandatory to obtain permission of court to sell the property which includes the share of a minor child. The vendor's advocate may try push the deal in order to get his monetary benefit out of such deal, so better have a second opinion from a different advocate.