Your father can make an arrangement and provide you entire property through your grandmother. Actually, your father wants to transfer all property to his mother who shall again transfer it to you when you become adult. There is no legal impediment in creating a intermediary right in favour of your grandmother.
Your grandmother shall get limited right in that property, and she’ll have no right to alienate or transfer it to any other person. The ultimate right shall vest in you when you attain the age of majority. You are a minor boy; hence, your father may create such a safeguard for smooth transfer of property.
This is an acceptable mode of transfer of property when the ultimate beneficiary is minor. In India, transferring property to a minor (a person below the age of 18) can be legally complex and typically requires specific procedures to ensure the minor’s best interests are protected.
The property can be transferred to a minor through a legal guardian, usually a parent or court-appointed guardian. The guardian must provide consent on behalf of the minor.
If the minor is below the age of 18, the natural guardian (usually the parent) can act on the minor’s behalf to manage the property. However, certain restrictions may apply depending on the nature of the property.
The property cannot be alienated or sold by the guardian without the permission of the appropriate court. This rule is designed to protect the minor’s interests and prevent misuse of the property.
Any income generated from the property, such as rent or dividends, is typically considered the minor’s income and should be used for their benefit. The guardian is responsible for managing and investing this income prudently.
When the minor reaches the age of majority (18 years), they have the right to take possession of the property and manage it themselves. The guardian’s role typically ends at this point.
