Huf propert mutation
SEEMA CHANDRA
(Querist) 20 February 2014
This query is : Resolved
My father in law died intestate leaving behind land/house which he got thru a partitionship suit decree . Mutation has been done and municipal receipts are in his name.
My husband is three brothers and they have agreed for family settlement.MY husband wants to sell his share and buy another property in his huf name to save LTCG .
KINDLY AADVISE--1)Is it mandatory to get mutation done in huf name before sale to avoid clubbing provision?
2) If mutation of his share is in his huf name how will the sale deed made?
WILL IT MENTION HIS OWN PAN AS AELL AS HUF PAN?--
3)IF mutation in huf name could not be done but cheque is taken in huf name will it not lead to clubbing provision?
SEEMA CHANDRA
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adv. rajeev ( rajoo )
(Expert) 21 February 2014
Yes before selling the property in the property extract everybodies name should be appeared.
Sudhir Kumar, Advocate
(Expert) 22 February 2014
without such demarcation your husband can only sell his stake and not able to completely transfer ownership.
only musclemen make such buying at throwaway price.
