Huf matter or not please suggest
tanuj
(Querist) 31 May 2012
This query is : Resolved
WE HAVE ONE PROPERTY WHICH IS PURCHASED IN 1983 . AND PURCHASER NAME WRITTEN IN REGISTRY
LIKE THIS......
R.L JAIN PITA(FATHER) SHREE A.L JAIN KARTA KHANDAN MAIN R.L JAIN G.L JAIN NIWASI UDAIPUR
SIR I WANT TO KNOW WHO IS THE ACTUAL OWNER OF THIS PROPERTY .
MR. R.L JAIN CAN SELL THIS PROPERTY OR NOT.
M R R.L JAIN HAVE TWO SON
(1-(LATE)G.L.JAIN , 2-P.C JAIN)
AND TWO DAUGHTER ALL ARE MARRIED.
WHO CAN CLAIM FOR THIS PROPERTY .
AND IF MR R.L JAIN SOLD THIS PROPERTY THEN WHO CAN CLAIM FOR THIS PROPERTY AND IN WHICH TERM .....
AND WHAT RIGHT OF MR P.C JAIN. HAVE IN THIS PROPERTY
J K Agrawal
(Expert) 01 June 2012
The wordings of a documents initially says that the property was purchased by Mr RL Jain was of HUF but actual ownership is regulated by the source of funds. If MR R L Jain purchased the property by his self acquired property, he has absolute rights to dispose off it as he wish.
If it can be proved that the property was purchased by the business which was previously handled by Mr A L Jain and or the source of funds was common pool of family then all the four child have 1/4 share in property.
If Mr RL jain has sold the property it can be challenged in the Court.
It is not clear that if Mr RL is alive or has passed away. If he is alive the sons (and now daughters also) can demand partition and can quash the sale deed.(in case of Property is of HUF)
Shonee Kapoor
(Expert) 02 June 2012
What are the exact wordings. Source is important, but self-acquired funds can also be used in buying HUF property.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
