Regarding HUF

Querist : Anonymous (Querist) 10 November 2010 This query is : Resolved
I have a complicated problem at hand.
Mr X is father and having his own HUF. His son Mr.Y is also having his own HUF. Mr.X has died. Can both the HUFs operate separately? How will be the distribution of property etc, how will the returns be filed? Can the son open two demat accounts for two HUFs and operate them separately?
Father is survived by one son only ie Mr. Y. His wife has also died and Y is the only son. Mr.Y is having wife and one son.

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adv. rajeev ( rajoo ) (Expert) 10 November 2010
After the death of the father Mr.Y will succeed the property of X. He will be the sole surviving member and constitutes only one family.

Guest (Expert) 10 November 2010
AS FATHER EXPIRED SON WILL GET HIS PROPERTY AS LEGAL HEIR .ONLY ONE HUF REMAINING HENCE ONLY ONE HINDU UNDEVIDED FAMILY OF SON .THIS WILL CLEAR ALL PROBLEMS.GOOD LUCK.

s.subramanian (Expert) 10 November 2010
I agree.

R.Ramachandran (Expert) 10 November 2010
Mr. Anonymous has posed the same query in another thread also. See http://www.lawyersclubindia.com/experts/Regarding-HUF-129291.asp