Share holding with hdfc depository service in huf
Bharati Agarwal
(Querist) 16 March 2015
This query is : Resolved
We have an HUF consisting of My Husband, Myself(Wife) Two Daughters(Major-Unmarried) and has a Share Depository A/c with HDFC Bank where we hold shares. On the death of my husband,i.e. the Karta, we(three remaining females, mother-daughters) have reconstituted HUF with myself as Karta and two Daughters as members and have requested the HDFC to change the Karta and its signature in the account, which is denied and they insis on either succession certificate of my husband,or a registered will, or a Familiy Settlement(Registered) or a decree/order from the court.There is no will.All these formalities shall take long time except Family settlement.What should I do? if we go for family settlement and its registration, then who would particiapate in it , we all three or my in-laws also,? and shall I have to pay any duty on registration.The value of shares is around 4.00 lac(but always flactuating) Kindly advise.
Advocate Kappil Cchandna
(Expert) 17 March 2015
Mam,,
Better take the succession certificate .... Its helpful for future purposes at many stages ...
Regards
Kapil Chandna Adv 9899011450
Rajendra K Goyal
(Expert) 17 March 2015
Go for registered family settlement which would prove to be faster process. Consult local lawyer.
Bharati Agarwal
(Querist) 17 March 2015
Sir,
I wish to go for a Family settlement for speed up the matter.Please advise that the family settlement shall have to be among the three females(myself+my two daughters) or with Other LH of my husband. 02. I have to seek shares from Depository Service, then any duty payable is involved on registration and on which vale of shares, cost?, current value?( the current value always flactuates)?..please advise.
