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Author Topic: Minors involved in past transaction  (Read 1361 times)

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Offline anidiya

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Minors involved in past transaction
« on: July 14, 2016, 07:30:09 AM »
I have a property in Kerala that i had bought in 2007. It was after the registration when approached for a home loan in a nationalized bank, their legal advocate made me realize that there was a minor interest involved in past transactions and i was asked to either get their consent or wait for few years for the minors to become major so as to evade away from any claims raised by them. Here is the series of transactions i pulled from Encumbrance Certificate.

7/93 - A sells property to a joint buyer B(Husband) & C(Wife)
1/05 - B is no more and C along with 2 minors C1(18 yrs) and C2(14 yrs) sell the property to D seeking it to be   
          used in favor of C1 & C2 's education. But no records of legal formalities of getting consent from court.
5/05 - D takes loan from cooperative Bank
6/07 - D is no more and the family repays the loan
6/07 - after 2 days E(wife of D) and 2 major sons E1 & E2 sell the property to F
10/07- F sells the property to me

C1 and C2 who were only at their age of 20yrs and 16yrs in 2007 were the reason for my loan being denied. Now they should be 28yrs and 24yrs respectively. Please advice if legally they can still claim their rights and will i be liable to pay any compensation. I don't want to approach them now for a no objection certificate (sorry, not sure what the document name would be) as it might turn against me. Please help.

Offline adv.amarnath

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Re: Minors involved in past transaction
« Reply #1 on: July 17, 2016, 12:59:01 AM »
Please do not try to explain your matter mathematically (A, B, C, C1 and C2) rather simply explaining the same will able to understand your matter easily. We have been habituated to understand matter directly.

Amarnath Sanyal
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Offline rajgopal sripathi

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Re: Minors involved in past transaction
« Reply #2 on: July 18, 2016, 08:25:08 PM »

Since the property has been sold by C  2005 and thereafter it has changed two hands (D' wife E to F in the year 2007 and F to you in the same year 2007) and now that the children of C are 28 years and 24 years respectively, if at all they wanted to contest the sale, they should have done it when the youngest child was about 21 Years old.

It is cumbersome for obtaining ratification deed now as the property has changed hands over the course of last 9 years.

Hence at this point of time even if the 24 year old wants to challenge the sale, it will not be technically possible for him to win the case on the grounds that courts will definitely question  why his brother who is 28 years old challenge the sale atleast 8/9 years ago.

so you do not need to worry on this front and if at all there is a compensation to be paid, then the compensation has to be paid by E, her sons, F and then you.

Looking at sequence of events and also that much time has passed law of limitation will apply and hence you need not worry.

Hope this helps.
Rajgopal Sripathi

Offline anidiya

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Re: Minors involved in past transaction
« Reply #3 on: July 25, 2016, 12:51:15 AM »
Thank you rajgopal sripathi sir. Your advice helps. So technically if am not planning to sell this property or pledge it for a loan I need not take any further action. Can I assume so?

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