Change of karta upon death.
Ankit Jiwrajka
(Querist) 09 July 2012
This query is : Resolved
My father is having an HUF account in the name of Sunil Jiwrajka HUF. in the above name , we are having and Demat account with IL & FS.
Two months ago my father died leaving my mother and myself ( Eldest Son ) and my brother .
Now the IL & FS people are asking for the an appropriate order from the competent court to change the karta of the HUF. They have also quoted that under Section 6 of the Succesion act i have to produce a succesion certificate for myself becoming the karta.
Please advice me that what is the actual formality that has to complied with.
it would be a great help of yours. Thanks
c.p.s. ramachary
(Expert) 11 July 2012
You may furnish notarized affidavits signed by all of you declaring that you (belonging to Mitakshara school) became Karta of the HUF and is entitled to act as 'Karta' of the family. In the affidavits to be furnished by your brother and mother seperately it should be declared that the other two have no objection for you to act as Karta and ratify all your acts in the matter. Please ascertain from IL & FS before submitting this as obtaining of Succession Certificate consumes more time and money.
