Status of huf while entering into contract of lease
Munish Kumar
(Querist) 26 December 2014
This query is : Resolved
Dear Friends,
Please resolve this query on urgent basis...
1. XYZ ltd. has sub-sub leased a property to "ABC HUF". And there is a clause in agreement that any change in name clause of lessee or transfer within family, than transfer charges will be 25% of actual transfer charges. And clause of the sub-sub lease have mentioned the word only FAMILY not "HUF".
2. So, Now HUF wants to transfer the property to Karta....and ready to pay 25% of actual transfer charges..But the XYZ Ltd is denying and saying that HUF is a separate Legal Entity and it is not a family. Therefore, HUF have to pay 100% of transfer charges....
Please advice me...
(A). Whether HUF and Family are different. And,
(B). Does HUF should pay 25% of Transfer charges or 100% transfer charges..
Please suggerst me on its very urgent..
P. Venu
(Expert) 27 December 2014
What are these transfer charges?
T. Kalaiselvan, Advocate
(Expert) 27 December 2014
Better consult a local lawyer with all relevant papers and decide about further course of action based on his advise.
Munish Kumar
(Querist) 27 December 2014
P. Venu Sir.... Transfer charges are more than Rs. 30,00,000/-
H.M.Patnaik
(Expert) 27 December 2014
A regd. HUF( Hindu Undivided Family) is an artifical juridical person in status and comprises of family members mentioned therein . The Karta of the HUF is a member of the said HUF . But As I am unaware of the Registration law of the state where you belong to , an experienced local lawyer may be in a better position to solve your doubts.
