jinal mehta (Asso accounts manager) 15 February 2016
There is one HUF, Karta of HUF died in 2007 and thats y eldest male member of the family become the Karta, issue is- there is no will as far as HUF is concerned. Karta that died in 2007 has exeuted will in personal capacityand property is distributed amoungst members as per will.
Now there are certain shares and PPF account in the name of HUF, New Karta( Eldest brother) wants to redeem all other things, and so probate is going on and sisters of Karta is not signing the doc for NOC, Daughters of Karta wants share in shares and other property of HUF as well, though they have been paid as per will of Karta.
is there any possible ground following which issue can be workewd out in a smooth manner, without asking for sisters permission????
CZ rupees are remaining idle since long earning not a single paisa
CAclubindia Online Learning offers a wide variety of online classes and video lectures for various professional courses such as CA, CS, CMA, CISA as well as various certification courses on GST, Transfer Pricing, International Taxation, Excel, Tally, FM, Ind AS and more. know more
S S Dahale ( Agri and business) 03 May 2016
Law is clear , once Karta of a HUF dies, Sr.most member either a surviving coparcner/s from that HUF( male ) or surviving member/s from HUF ( female ) now becomes a Karta, mind well , as per law , both male and female from HUF are having equal rights. at the same time , that surviving coparcner or member of that HUF cannot include any more coparcener or member ( from the family)to that HUF, ( i.e . it will be the same HUF without original Karta).other family members-blood relatives who were not part of that HUF earlier (before death of that Karta of HUF) have No right-claim-privligaes .
so there is No need to ask sign / NOC from other family members, either to continue that earlier HUF or dissolve it and get proceeds of HUF distributed within balance / surviving person/s of HUF. to resolve the issues amicably , always keep a position to distribute the proceeds of that HUF equally amongest bothe coparcener and member, and to dissolve that HUF forever.
jinal mehta (Asso accounts manager) 04 May 2016
thanks you. My question is i dont want to distribute property of HUF equally amount all the members. Other members have already got their share and thats y all things reaming should go to new KARTA only.