Legal Question in Real Estate Law in India
Iam getting into a Development cum GPA with a Property Owner to build an Residential apartment. In the course of time after our preliminary discussions the Owner has gifted a part of the property to her Husband and a part of the property is gifted to her Child (Minor, 13 year of age as on date) with Father as the guardian. I got to know that as a builder I would get into trouble and the agreement would be void if part of the property is legally gifted to a Minor Child? My purchases will face a problem in acquiring loan to buy the completed apartment. Is that true and if Yes, how can i come out of this legal issue. Is there any way you can suggest?
1 Answer from Attorneys
You need to take a commercial decision after considering and evaluating the entire situation as well as perusal of necessary documents. Therefore, you may need to show your documents to a lawyer for appropriate advice.
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