Huf property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2014 My father having HUF Account. In his account two property is standing. One is open agri land and one Home. We have 5 member in our family, i.e. my dad,mom my self, my wife, my two children and my two sister who is married. Now i want to close this huf account. How i can close it.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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19 March 2014 In my opinion, an HUF continues until there is no male member to become karta. Though in some cases it is also seen that an HUF can be continued even after the death of male member by the female members of the family.
You may also go for full partition of HUF properties among the members by preparing full partition deed.

Querist : Anonymous

Querist : Anonymous (Querist)

20 March 2014 Whether is it possible to transfer this two asset in my account after full partition. If i got the consent of Karta and all co-personer.

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