My grandfather built a house with the money he earned himself (i.e., he did not inherit the house from his ancestors). He made a formal will (duly stamped) and transferred the house to the HUF made up of my father, mother and myself. He has 2 daughters (i.e., my paternal aunts who have been married) but in his will, he clearly mentioned that the daughters do not have any right in the property whatsoever. Now, my father has passed away and the society in which we live has transferred the house and the shares to my mother's name with me as the only nominee according to the rules of the society. With this information, here are my questions:
1. My father did not do an HUF deed. However, he opened a dedicated bank account for himself, my mother and me and "assumed" it was HUF. All the income from the society (i.e., dividends etc.) was deposited to this account. Is there a way I can convert this "joint" account into HUF by giving proof of the society money deposits in this account? Again, since the house is in the HUF, all the money associated with it should also be HUF in my opinion - please let me know, if it's not correct.
2. I'm the only son and so now the karta of the HUF mentioned above with my mother as a coparcener. Do I need to do any documentation/registration to prove my status of being the karta?
3. I am curious to know how the money will be divided between me and my mother, should we sell the house in the future.
4. What will the buyer need in terms of the property ownership documents? Would my grandfather's will and the society documents suffice? We do have every other property document (i.e., proprty tax etc.) in possession.
Thanks.
GG_007
