Our daughter dead in mysteroius circumstances. father released on bail under section 306. Trial goingon. Father not reliable person. Paternal parents wants to keep the children but can change after doing remarriage of son. Marernal parents want to know 1.) how can the property of their father shop, plot can be transfered to minor children age 5 years girl and 2 years boy in case they are ready to transfer the same to children. 2.) Children maternal parents is ready to make FDRs also on the name of the children for safe future of the children as demanded by maternal parents of children. Our question is how should the documentation of immovable property and FDRs be done for the safe and bright future of the children when they have lost their mother and father is not reliable to them.
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Firstly, for the FDR’s just have to go to bank and make it with disclosing that till the time they do not attain the age of majority, the said FDR’s can’t be broken by anyone.
Secondly, put one guardian name also for the children after mutually decision between both the families.
Thirdly, as for the property point, I advice you to decide certain things then would be able to give you precise advice.
1) gift deed can be executed by father in favour of his minor children
2) gift deed should be duly stamped and registered
3) for fixed deposit you dont need a gift deed
4) however if you so desire gift deed can be executed in favour of minor children for FD
Hi, since the children are in minor age, the property etc. may be given in their name in the medium of gift and they can use/handle the property when they are major.
1. During the life time of father the children do not have any shae in the self acquired proeprty of father. So the children presently can not claim the proeprty off other unless the father willingly gift them.
2. Howeevr anyone including grandparents cna invests money in favour of the children .There is no restrictions for this.
3. The FDRs would be made in the name of minor of children so beofre their attaining majority no one can redeem the same.
4. if the father is out on bail then the children can file a case for maintenance through their relative/grandparents as per income of father.
You can make FDR till the children attain 28 years with the bank to which you may have to consult the Bank managers.
You can get the Will registered in the name of children.
Gift the properties to children.
1. Your query is not properly framed, hence confusing.
2. If the deceased was your daughter and the father-in-law has been brought on trial for the offence under Section 306 IPC then you ought to have referred to him as 'father-in-law' not 'father'.
3. The property of father can be transferred to minors only if the father executes a gift deed in their favour.
4. In so far as FDRs are concerned the maternal parents simply need to create one in their favour. No additional documentation is required for this.
1. By means of a deed of relinquishment or gift.
2. The immovable property should pass on to the children either under a gift deed or a deed of relinquishment. FDRs in the name of the children will be enough proof in itself.
Hello,
The property that belongs to the father and happens to be the self acquired property of the father can only be transferred by will of the father and can not be transferred without his will.
If he is willing to transfer then, a guardian is to be appointed by the court for minor children and by means of a gift deed the property can be transferred.
Regards
1. After appointing a guardian, the properties and FDR can be transferred to the childrens.
2. As grandparents longevity is of short span, it is advisable to allow the kids to be with the father. Otherwise, chances are childrens may be orpahned and none other than parents can take care of the kids. Others will be behind the money.
3. The courts can appoint a guardian, can it replace a blood relationship?
Therefore, think....... and decide.
The best way to proceed in such cases is to ask the father to transfer immovable property to his children by way of executing a gift deed in favour of the children.Gift deeds can be made in favour of minor children as well.
Stamp duty would have to be paid on the Gift deed by the father, which varies from state to state .Gift deeds once executed are irrevocable .Hence this is an excellent way to secure the future of your grandchildren.
Further the father can make Long term fixed deposits in the name of his minor children.
Dear Client,
Opt for Gift Deed. Once executed, irrevocable.
FDRs can be done by agreement that the money will be used for children benefits only.
ALSO, if the FRDs are bought in the name of children, without court orders cannot be matured before they grow major.
All can be done in systematic way safeguarding your childrens interest.please email me on [deleted] so as to guide you in better way.regards adv vijay
You can purchase/transfer the property in the name of minor but cannot sell the property of minor. Secondly, FDR can be made for the period till they attain majority.
They can transfer the property to the minor children by executing a registered gift deed and appoint any close relative to the children as guardian to the children during their minority and to hand over possession to the minor children after they become major by age.
If the father of the children is not reliable, then the maternal parents of the children can take responsibility of the properties, both movable and immovable that has been transferred in the children favor and they can hand it over to the minor children upon they attaining the age of majority.
I would like to know the detailed reply regarding the answer given by Mr. Kalaiselvon, which suits to the current situation. quote "f the father of the children is not reliable, then the maternal parents of the children can take responsibility of the properties, both movable and immovable that has been transferred in the children favor and they can hand it over to the minor children upon they attaining the age of majority" Unquote 1.) What procedure needs to be followed up for getting the responsibility of the properties of children till they get age of majority. 2.) Can it be done through court ? if yes then how long it may take to get it done through court as normally court proceedings take long time.
1. Guardian is to be appointed through the court under the the provisions of the Guardianship and Wards Act.
2. it will take 6 month to 1 year for the case to be decided and order be passed, yes the same will be done by the District Court.
regards
1) maternal grand parents can apply to court for being appointed as guardian of the child
2) notice would be issued to biological father
3)court after considering submissions of father can pass orders appointing grand parents as guardian of child it should not take more than 2 years or so
1. The maternal grandparents of the children should apply for custody and guardianship for the minor children and they should mention the schedule of properties that belongs to minor children to take care of them till the minor children become major.
2. It has to be done through court only, the time taken for this cannot be predicted owing to various factors, especially if the respondent/father of the minor children strongly contests the case.
1. A petition for guardianship of the properties of the minor has to be filed before the guardianship judge.
2. The court will issue notices to the father of the ward (child) and hold a trial.
Hi, it would be done through court and may take about six months in decision of the case.
Thanks everyone for your valuable opinions, in continuation of above reply given by you. We have already proceeded for the same but facing the below chellenges: 1.No bank is ready to make FDRs on the name of the children as they are minors. They will open the accou nt with the legal guardian father of the children, who is not a relaible person, and no bank make FDRs beyond 10 years, so FDRs will be matured when children will be in the age of 12 and 15 as their present age is 2 and 5 rightnow, again minors. That money can be misused by father at the time of renewal. Moreover father can also get it prematured with the court order in future. 2. Same with the case of preperty also same can be sold by father with court order if same is transferred even after executing the gift deed after payment of the stamp fee. My question are 1.) Is making the reliable close relatives, a legal guardian of the children through court is the only solution? 2.) Is making a trust to look after the welfare of the childrens consisting of few close relatives and friends of children will be the best solution. Is it possible out of court also. 3.What is your suggestion to ensure that the amount is only withdrawn from bank by children when they get the age of 21 or major and their father could not sell the property of children transferred through gift dead even with court order and childrens can be the benificiary their property only.
Instead of investing money in fixed deposit it is better investments be made in mutual fund plans for children
2) set up trust for benefit of children with trustees being close relatives
1. The bank may refuse to accept the FDs in the name of the minor children, you have to provide a legal guardian to the children to take care of their funds during their minority.
You can obtain legal guardianship certificate from a court competent in this regard.
Under the circumstances, you can apply for child custody and legal guardianship for the minor children especially when their father is facing charges for the death of their mother who is reported to have died under mysterious circumstances and he has been held under suspicion.
2. Since you fear that the father of the children may deprive the children of their privileges and rights in the movable and immovable properties, you apply for legal guardianship for the children
How far the trust will be reliable shall depend on the trust being proposed to be formed
3. The FD amount deposited in the name of children can be reinvested again and again till the children become major by age.
1. In this scenario the only remedy for you is to file a petition for declaration of guardianship and child custody before the Guardianship Judge. If the court declares you as the guardian of the child thereafter you can apply for FDRs in the name of the children with you as the guardian.
2. A declaration of guardianship can be with respect to the property and person (body) of the minor.
3. Trust will not suffice in your case.
1. yes if the father is not a reliable person, then that is the only solution you are left with.
2. This wont be a good solution, no a guardian can not be appointed without a court order.
3. Write an intimation with regards to the same to the bank only.
Regards