Rajeevan (engineer) 16 August 2012

Settlement deed - conditions to sell

Sir,

My mother gave me a settlement deed for 6 cents of land for the purpose of constructing a house. In the registered deed, there is a conditon stating that the above land will not be sold outside, and if I wish to sell, it should be sold to my brothers/sisters only. Does the above condition legally valid?

I applied for a home loan. The bank manager said that because of the restrive clause, loan can not be santioned. Is it correct? Can my mother restrict my power to sell the property perpetually? Please advise.

What is the use of being the owner of such a property? I am constructing a new house in the plot. Does it will have any legal complications later?

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3 Replies

Adv Rohit Dalmia 9324538481 (Lawyer) 17 August 2012

Dear Rajeevan,

when the said settlement deed was given to you have you gone through it???? have you spoke about it with your mother????

you need to provide the copy of the settlement deed so that proper opinion could be given. you can mail on onlyrohit2003@yahoo.co.in

Regards,

Advocate Rohit Dalmia

09324538481

Rajeevan (engineer) 17 August 2012

Mother insisted that she would be ready for registering the deed only when the clause is written. The original deed is in Malayalam. I am just reproducing the caluse in English: " The above mentioned poperty should not be sold outside. If wishes to sell, it should be sold to your brother or sister only." Can someone write conditional statements which have never ending validity. What is the use of holding such a property where I have not rights to sell it? Is it legally valid?

SACHIN AGARWAL (ADVOCATE) 25 August 2012

Since you have title in the proeprty, although the condition is there, you can very well mortgage the same in favour of Bank to secure the loan and the said condition would nota pply upo the Bank in case the Bank takes possession over the same due to non payment from your ends.