Gift deed cancellation
3 years ago
Hi. Experts,
I am looking to buy a property, However I have run into a problem need advice on the same.
My seller has bought the land and executed the sale deed on 2004 and got it registered to her name. Later the seller has made a gift deed to her 2 minor sons on the year 2005 by appointing a guardian.
Later she planned to take a loan on the same property. As the property was in her minor son's name she executed a deed of cancellation in 2008 and took back property to her name and got it registered and this has been done with the consent of the guardian as well.
Post deed of cancellation she went ahead with her loan and obtained the same.
Now I am planning to buy the property and applied a loan for the same. Now my bank's legal team is seeking for court permission for cancellation of deed as it was executed in favour of minor children.
As of today both her son's are major. Now I wanted to know is it possible to get the court permission now or is there any alternative to this such as affidavit or something similar.
Ayantika Mondal @ Prime Legal
Responded 3 years ago
you can take NOC from the sons and also a verification from the court whatever is asked for.
the court permission is required or the NOC from the sons, you can go for either.
You have to share relevant documents to get exact legal advise otherwise you may be misled.
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Ankur Goel @ Complete Law Shield
Responded 3 years ago
They can be party.
there are many ways to handle it which depends between seller and you that who will bear expenses and they will do it or not.
Advocate Ankur Goel (Complete Law Shield)
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