30 March 2023
If a person builds a HUF with him, wife, kid and buy a property on HUF's name. 1. Can all the members of HUF be assured that they will get equal share in any case like division after Karta's demise by selling or share in rental income? 2. Since Karta is the manager for HUF, will he get any special benefit from such property? 3. Do all the members have equal say from all aspects on that property like decision to sell etc? 4. After Karta's demise, can wife become Karta?
31 March 2023
1. In a Hindu Undivided Family (HUF), all the members have an equal right to the property owned by the HUF. Therefore, in case of any division or distribution of property, all the members will be entitled to an equal share, including the wife and kids.
2. As the Karta of the HUF, the person will have the authority to manage the property owned by the HUF. However, he cannot claim any special benefit or ownership over the property just because he is the Karta. The property belongs to the HUF, and all the members of the HUF have an equal right to it.
3. All the members of the HUF have an equal say in the decisions related to the HUF property, including the decision to sell the property. However, the Karta has the authority to make the final decision after considering the views of all the members.
4. After the demise of the Karta, the next senior most male member of the HUF becomes the Karta. If there are no male members available, then the wife can become the Karta. However, this is subject to the approval of all the members of the HUF. If all the members agree, then the wife can become the Karta and manage the HUF property.
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