Joint holder of property

NITIN (Querist) 02 November 2010 This query is : Resolved
Can I buy a property in my name and second holder my minor son?

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R.Ramachandran (Expert) 02 November 2010
Yes, you can do it. There is no bar.

Chanchal Nag Chowdhury (Expert) 02 November 2010
Yes.U will sign both for yourself & natural guardian of the minor.

s.subramanian (Expert) 02 November 2010
Yes.

Kirti Kar Tripathi (Expert) 02 November 2010
yes.

B K Raghavendra Rao (Expert) 02 November 2010
Yes, you may but note that upon coming of majority age, your son shall have fifty percent stake in that property.

Arun Kumar Bhagat (Expert) 02 November 2010
All opinions are commendable.

Raj Kumar Makkad (Expert) 02 November 2010
yes.

Devajyoti Barman (Expert) 02 November 2010
Yes but as long as the son is minor you can not transfer his share without the leave of the court.

G. ARAVINTHAN (Expert) 08 November 2010
You can buy a property in name of your child or in joint names of both of you.

There is no bar under Law to purchase property in the name of minor children.

However there is bar to sell the property which is in the name of the minor. Though you have proof of purchasing the same in your self earning, you have to approach court of Law to obtain permission to sell the property

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