sale of HUF property

sanjeev gabrani (Querist) 25 July 2010 This query is : Resolved
please let me know how as a karta of HUF i can sell my HUF house and take the sale consideration cheque in the name of all the coparceners...sanjeev gabrani

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Y V Vishweshwar Rao (Expert) 25 July 2010
You along with all the coparceners join in the sale deed as Vendors and obtain the Cheques as per your shares .

Y V Vishweshwar Rao (Expert) 25 July 2010

Kartha as Vendor can sell the property representing other coparceners- You can also mention all coparcenrs names and receive the Cheques in your name and other coparceners -

sanjeev gabrani (Querist) 27 July 2010
i am the karta of HUF and has 11 coparceners in the HUF...i have to sell a property which is in the name of HUF...please let me know can i take cheques in the names of coparceners including me and not take cheque in the name of HUF...thanks and regards...as i have consulted some lawters as well as deed writers they are saying cheque has to in the name of HUF only...

sanjeev gabrani (Querist) 27 July 2010
thanks for your reply...according to some lawyers i can take cheque in the name of other coparceners only if i dissolve the HUF...PLEASE SUGGEST...sanjeev gabrani

Y V Vishweshwar Rao (Expert) 27 July 2010
A Unit- property of HUF Property is to be sold . There is consent by all the coparceners for sale /Sale by all the Coparceners and it is only the point how to take the sale consideration -

It is connected with Accounts and Tax Returns /matter - pleas contact your Personal/Local Chartered Accountant to have a clear view with referecne to your Accounts / Tax/ Returns.

DEFENSE ADVOCATE.-firmaction@g (Expert) 31 July 2010
The karta is the exclusive owner and he can dispose property and take cheque in his name. No problem.

In IT the HUF is treated as one unit.

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