What is the status of the HUF account, when the Karta has expired leaving behind 2 sons and his wife. Will the eldest son automatically becomes the Karta the family. How to deal with his property both moveable. immoveable and share account
by an amendment effected in Hindu Law in 2005, women now can be karta and manager of HUF and represent the members. so in ur case the mother will become karta and manager of the family. However, if sons are married or have issues they will be respective kartas of their own family.
Here HUF consists of 2 sons and wife of the deceased kartha. The two sons are coparcerners, wife is not a copercerner, she is merely a member of HUF. This is the distinction between HUF & JUF(Joint Hindu Family).Therefore, wife cannot succeed as kartha. Only the eldest coparcerner who has attained majority age can succeed as kartha. It should be noted that consequent to amendment of Hindu Succession Act during 2005, eldest female coparerners are entitled to act as Kartha. Prior to the amendment only eldest male copercenar would succeed as kartha of Joint Hindu Family.