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Procedure to transfer HUF ownership to personal name?


02-Jan-2023 (In Family Law)

I want to Dissolve the HUF by Full partition. I am Karta with my wife ( Children mother) & 2 sons ( Adults & married) . We have one flat & few financial assets. My both the children want to surrender their share to me & my wife ( children mother) . Please advise what is the procedure for partition Deed where the flat ownership will be transferred from HUF name to the personal name of Karta & his wife. (Children Mother) . I understand Stamp duty is to be paid on flat ( Circle Rate value & Financial assets.) 

Answers (2)

Answer #1
943 votes
As per the fact of your case if you children who are major is ready to relinquish their right in this circumstances those person means your both children will relinquish their right in your favour by relinquishment deed and you shall become the absolute owner of that property or you should file partition suit and make all of them party in that suit. or by partition deed, you and your children and wife shall execute a partition deed oral or written.
Advocate Rajesh Kumar

Adv. Rajesh Kumar

LawRato Delhi | 100+ Answers
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People also ask

What is the HUF formation deed?

The HUF Deed, which is written on Stamp Paper, contains information about kartas, HUF members, sources of funding, etc. The Deed is proof that the entity has been formed. Karta is the eldest male HUF member.

What is the cost of HUF formation?

Registration for HUFs starts at just Rs. HUF Registration Starting at Just Rs. Fees). HUF is the Hindu Undivided family, where the income earned belongs to all members of the family.

Is stamp duty payable on partition of HUF?

Stamp duty is applicable to partition deeds and they must be registered. The Stamp Act requires that a decree of partition be stamped as an instrument of division under Schedule 1 of Article45 r/w section 2(15)[4] 29-Oct-2023

  
Answer #2
837 votes
First of all it is important to note that the partition of the HUF property has to be made in equal proportion among all the Copartioners and then whoever related to blood wants to transfer the property in your favour, he or she can do so vide gift deed or vide relinquishment deed in your favour and as accordingly you understand the said deeds require mandatory registration and stamp duty which varies from state to state. Thanks
Advocate Navin Thakur

Adv. Navin Thakur

LawRatoDelhi | 100+ Answers
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