HUF property

tamilarasibabu (Querist) 11 December 2008 This query is : Resolved
Can HUF property be transfered to one of its member with the consent of the other members? kindly suggest the preferable method of transfer and the stamp duty payable

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Guest (Expert) 11 December 2008
yes but if that person continue to reside in HUF than it will again consider as a
HUF, so that the and be separated

G. ARAVINTHAN (Expert) 11 December 2008
Yes. HUF property can be transferred to an individual, who is a member of the HUF only on the consent of all other members

Jithendra.H.J (Expert) 11 December 2008
1)for partition deed the registration charge and stamp duty is very less
2) Relinquishment deed-has to pay on market value
3)gift deed- cheaper
4) family settlement deed-refer the stamp act and registration act applicable in your state