25 November 2011
Ram Ji and Bimla Ji formed an HUF.Ram Ji is Karta, suppose a property is bought in the name of this HUF and unfortunately after that Ram Ji (Karta) dies-who will be the legal owner of that property and if the wife Bimla Ji dies then who would be the owner of this property and suppose both die simultaneously then what?
They have 2 Major Kids also,they are out of this HUF-would they get some share in any case ??--please explain with some references...
Is it advisable to buy a property in the name of HUF instead of individual name- any harm/any benefit??