Huf property

Legal Eagle (Querist) 01 December 2014 This query is : Resolved
A person purchases a property during his lifetime out of his income. He declares it as an HUF Karta property. The property purchased stands in his name only.

During his lifetime, he intends to dispose off the property.

Can he sell the property without the permission of his family members?

Follow Query

Report Abuse

Dayananda Gowda (Expert) 01 December 2014
He may sell his share property

Rajendra K Goyal (Expert) 02 December 2014
If he want to sell full property, the purchaser should insist for the signatures of all coparceners.

Dr J C Vashista (Expert) 03 December 2014
I agree with experts, the karta can sell his share or obtain written consent/ signature of all members of HUF.

Legal Eagle (Querist) 04 December 2014
Thank you every one for the legal assistance. I shall be obliged if you could guide as to under which section of which Act, is this applicable.

Thanks

Vidhi Joshi (Expert) 05 December 2014
Consent is needed from other coparceners.

Sailesh Kumar Shah (Expert) 05 December 2014
it is custom. this type of practice is for satisfaction of buyer.

T. Kalaiselvan, Advocate (Expert) 05 December 2014
Are you worried about the sale of property by the Kartha of the HUF or section that is applicable for such sale, if it is the latter, you may discuss the issue with your local lawyer who will be able to clarify everything in detail.

Legal Eagle (Querist) 08 December 2014
Dear Mr. T. Kaliselvan,

I want to peruse the relevant section so that appropriate steps maybe taken. I need to dispose the property for which I wanted to refer to the section.

However, since so many experts have penned their expertise I will go with that and as per your suggestion seek guidance from my Advocate.

Thanks to all the expertise.

Sailesh Kumar Shah (Expert) 08 December 2014
you are most welcome.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries