My father passed away 5 years ago and my mother passed away 2 months ago. We are two brothers each having one wife, son and daughter. My mohter had some bank accounts and property with rental income. We (both brothers) don't want to divide the propoerty yet. Can we create a HUF to transfer the property from my mother's name to the HUF and manage the rent of the property accordingly?
Otherwise, can anybody tell me how can we share the rent without dividing the propoerty ?
CAclubindia
