Can i buy property on my minor child name

878 votes

Yes you can purchase property in your daughter's name. As she is minor she should be represented by you for registration of property in her name. Once you purchase the property you will not be entitle to sell it in future without the permission of court, unless she attains majority.

Advocate Ranjit Singh Thakur LawRato

692 votes

You can buy a flat in the Apartment in the name of your minor daughter under your guardianship being natural father and can register on her name after attaining majority through court only. You are not supposed to sell before attaining her majority and if you required, you can take the permission of the Court.

Advocate Goturu Krishna Rao LawRato

353 votes

In India, it is legally possible to buy property in the name of a minor child, but there are certain legal considerations and procedures that need to be followed:

1. Guardian: A property purchased in the name of a minor child is typically held in trust by a legal guardian, often one of the parents. The legal guardian has the responsibility to manage and protect the property on behalf of the minor.
2. Legal Formalities: The property purchase should adhere to all legal formalities, including the payment of stamp duty and property registration, as required by Indian law.
3. No Disadvantage to the Minor: The purchase should not put the minor at a disadvantage or harm their interests. The property should be for the benefit of the minor and should not be used for any unlawful purposes.
4. Court Approval: In some cases, court approval may be required for the purchase of property in the name of a minor, especially if it involves a substantial amount of money or valuable assets.
5. Minor's Rights: The minor has the right to the property once they reach the age of majority (18 years in most states in India). At that time, they can take possession of the property and make decisions about its use.
6. Documentation: All transactions related to the property purchase should be well-documented, including the appointment of the guardian, property deed, and any court orders if applicable.
7. Income Tax Implications: Any income generated from the property, such as rent, will be treated as the minor's income for income tax purposes. The guardian is responsible for managing the minor's income and paying any applicable taxes.
8. Protection of Minor's Interests: The primary purpose of buying property in the name of a minor is usually to secure their future. It is essential to ensure that the property is maintained and used for the minor's welfare and best interests.

Advocate Chikirsha Mohanty LawRato

396 votes

The Act stipulates that you may only purchase property on behalf of a minor if you are their guardian or signatory authority. Section 11 of the Act states that a person can only purchase property in their own name after they turn 18 years old.

Advocate Chikirsha Mohanty LawRato