Title for huf property
Deepak
(Querist) 29 March 2016
This query is : Resolved
My father bought a plot of land in his name. He built a house on it. He started an HUF. He has expired. He did a collaboration agreement and retained only one floor. We would like to sell that floor now. Can the Karta sign the sale deed or all co-parceners have to sign the sale deed. Do co-parceners have to go through any procedure prior to making a sale, or the title has automatically passed on to us as the HUF members? Please advise.
Adv. Yogen Kakade
(Expert) 31 March 2016
For the Sale of the property every member of the HUF need to sign the agreement of the final conveyance.
Deepak
(Querist) 31 March 2016
Thanks for your input. My question is whether we need to get the title transferred in the name of living members of the HUF(2 sons and one daughter) before being able to make the sale or can we three sign the sale deed(agreement of final conveyance) on the basis of HUF? Please advise.
kavksatyanarayana
(Expert) 02 April 2016
all legal heirs of the deceased can sale the property without mutation of your names, but you have obtain a legal certificate from the tahsil office.
Deepak
(Querist) 19 April 2016
We would like to be able to make use of provision to re-invest the capital gains in house property or capital gains bonds to minimize the incidence of tax on capital gains on the sale. What is the procedure to get the house title in our name 1st and then make a sale. This way all three of us would be able to invest the capital gains in our respective names in either house or capital gains bonds. Please advise.
