Can a Minor's property be transferred or developed? (Section 8)
A minor may become owner of a property by succession or if someone gifts or sell it to him or her before attaining major age i.e. 18 years in India. Most of the cases a minor becomes a property owner is by succession on father's death or any other family members death by line of succession.
If a property is owned by a minor such property can only be sold, leased or developed or mortgaged after a permission order is issued by the competent Court.
Court will give this permission if it finds that it is beneficial to the minor. You will find the relevant laws under The Hindu Minority and Guardianship Act, 1956 and The Guardians and Wards Act, 1890.
Notices to the Collector and probable other guardians of the minor, other than the one who is applying to court, are sent before hearing the petition for obtaining such permission.
Documents that are submitted to the Courts are -
(i)any agreements or deeds relating to the minor's property made with guardian of the minor;
(ii)valuation of the property;
(iii)identification of the parties.
Before development of the property the local municipal may ask this court permission.
If a minor is just a year or two away from becoming a major, it is better to wait for it because sometimes Courts proceeding are delayed due to many reasons like backlog, pandemic, work strike, etc.
The Minor's property may be leased without permission of the Court but for a term not exceeding five years or not for a term extending more than one year beyond the date on which the minor will attain majority.