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What is the process of selling an HUF property ?
29-Oct-2023 (In Property Law)
If property is in name of HUF, when property is to be sold than whose sign is necessary only kartas or all members . 2. If one of member is seperated and on plain paper he has written that all partition is done properly in that HUF property is not written than whether that seperated member can demand his share in that property on the time of sale.
Only Karta of HUF has the right to purchase or sell or manage the property of the HUF. Any coparcener if having any objection, must have got in a stay order from the court of law or must have given a legal notice the Karta for initiating the sale.
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What is the Supreme Court judgment on HUF property?
LIVELAW NEWS NETWORK. The Supreme Court ruled that a Karta in a Hindu Undivided Family has the right sell/dispose/allocate a Hindu Undivided Family property even if the minor has an undivided share. 06-Oct-2023
Can HUF Karta sell property without consent?
The Supreme Court has ruled that the Karta" of a Hindu Undivided Family can sell, mortgage or alienate its property even though it may be owned by a minor. It is also not necessary for the head of the family to get the consent of the other members. 07-Oct-2023
Who is the owner of HUF property?
The property of an HUF is owned equally by each member. The property owned by the HUF cannot be sold unless all members of the family are present. The property is also divided equally amongst new members of the family who are added by birth or marriage. 21-Sept-2023
What is the law on Hindu Undivided Family property?
By virtue of their rights, the co-owners are entitled to receive a portion of this property. A HUF usually has a business that generates income. A HUF is therefore considered a person under section 2(31), of the Income Tax Act[i] from 1961[ii]. It is also taxed separately.
According to the Hindu Succession Act (HSA), the Karta of a Hindu Undivided Family has the authority to manage and sell any property that belongs the HUF. The Karta cant sell the property without all of the HUF members consenting.
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Adv. Chikirsha Mohanty
Delhi | 200+ AnswersCONTACT NOW
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