Huf law

R.K. Agarwal (Querist) 12 April 2012 This query is : Resolved
I have an HUF Account in NSDL DP also the karta my father deceased on 29/10/2011. The share holding in DP id is over 10 lakhs.The DP is asking for competent court order or deed of partition to trasmit the shares to next karta.

Follow Query

Report Abuse

Kiran Kumar (Expert) 12 April 2012
you need to have a succession certificate and further partition of assets if needed for the purpose.

meet some local lawyer for appropriate step.

Nadeem Qureshi (Expert) 12 April 2012
Dear Mr. Aggarwal
you have to need a Succession Certificate, according to section 372 Indian Succession Act 1925,
372. Application for certificate.-
(1) Application for such a certificate shall be made to the District Judge by a petition signed and verified by or on behalf of the applicant in the manner prescribed by the Code of Civil Procedure, 1908 , (5 of 1908 .) for the signing and verification of a plaint by or on behalf of a plaintiff, and setting forth the following particulars, namely:--
(a) the time of the death of the deceased;
(b) the ordinary residence of the deceased at the time of his death and, if such residence was not within the local limits of the jurisdiction of the Judge to whom the application is made, then the property of the deceased within those limits;
(c) the family or other near relatives of the deceased and their respective residences;
(d) the right in which the petitioner claims;
(e) the absence of any impediment under section 370 or under any other provision of this Act or any other enactment, to the grant of the certificate or to the validity thereof if it were granted; and
(f) the debts and securities in respect of which the certificate is applied for.
(2) If the petition contains any averment which the person verifying it knows or believes to be false, or does not believe to be true, that person shall be deemed to have committed an offence under section 198 of the Indian Penal Code. (45 of 1860 .)
(3) 1[ Application for such a certificate may be made in respect of any debt or debts due to the deceased creditor or in respect of portions thereof.]
feel free to call