How do you sell a minor property?

Can a property of minor be sold?

Sale and disposal of immovable property owned by a minor

As per the provisions of the Hindu Minority and Guardianship Act, 1956, any property or share in property owned by a minor, cannot be sold or disposed of by the natural guardian of the minor, without taking permission from the court.

Can a property be transferred to a minor?

A minor can also acquire an immovable property by way of gift. A minor is not competent to contract as per the Indian Contract Act, 1872 but as per the provisions of the Transfer of Property Act, 1882, a minor can accept a gift of an immovable property, without the intervention of his guardians.

How can I sell my minor property in India?

The natural or legal guardian of minor will have to file a petition under Guardians and Wards Act in the court of Guardianship Judge to seek the permission of the court to sell the share of the minor.

Can a minor be an agent?

Agent and principal are defined under Section 182 of the Indian Contract Act, 1872. … According to this section any person can become an agent i.e. there is no need to have a contractual capacity to become an agent. Therefore, a minor can also act as an agent. But the minor will not be responsible to his principal.

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Can a child hold property?

A child under 18 cannot take legal title to property, so there are two ways in which the property can be held: a simple ‘bare trust’ or a more formally constituted trust, such as a life interest or discretionary trust. Under a ‘bare trust’, another person holds the title to the property as a nominee.

Can we recover money from minor?

Position of Minor under Contract Act 1872:

Consequently, the minor is entitled to recover money which he paid to the vendor as consideration on condition that property is restored to the vendor. … Minor can be admitted to the benefit of the partnership.

What happens if your beneficiary is under 18?

What happens to the death benefit if you name a minor as a beneficiary? If your beneficiary is under the age of majority when you die, the death benefit is paid to a custodian of the funds. The custodian is court-appointed, but the court will most likely choose the surviving parent.

Can a minor execute a sale deed?

Minor is not competent to contract. Any contract entered into by a minor is void ab initio. So if the minor has a guardian under who is competent to contract on his behalf then the said deed will be legal.

What if legal heir is minor?

In essence, even though the minor child becomes the owner of his parent’s wealth, he cannot legally manage it. The inheritance is managed by a guardian, appointed from among his relatives, till he becomes an adult.

Who is a minor in India?

India. In all 28 states and 8 union territories, a minor is referred to as someone under the age of 18. In rare cases minors aged 16 or 17 who are charged with extremely heinous crimes could sometimes be treated as an adult.

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Can my father take back the property registered on my name when I was minor?

Thus, if your father is able to show that the property was bought by your father’s money then your father can take back the property. Yes your father can make a new will after obtaining the title of the property.