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Max (-)     09 October 2011

Property sale by karta huf

Dear Fellow members,

I want to know if as a Karta to a HUF, can I sell the property under JHUF for 'dharmarte' (i.e. charitable) reason - I wish to use the proceeds of the sale for starting a charity.

I do not want to get into transferring the property in my name first and then sell it later.

Do I need to seek approval from all the other members of HUF ?

Thanks,



Learning

 3 Replies

medappa (legal)     10 October 2011

Yes, Since the property being ancesttral property, you will have to get the connsent  the other members of the huf, the reason being that they too have a share in the huf property.  

laxminarayana (Advocate)     12 October 2011

Dear Max

Is it yourself (not ancestral property) acquired property if yes go for gift settlement deed, because the Karta (who has self acquired property) has right to sell or gift to anybody.

Is it your ancestral property (not self acquired property) if yes your HUF can get their share of property. you are eligible to get your share of that property after dividing all shares. So you can sell or gift to anybody of your share property only (not whole property).

 

1 Like

Mona (dont know)     17 November 2011

Hello,

My parents have passed away and their flat in Mumbai worth four crore is in HUF  My brother has the document and he would not show it to us.  We want to make sure he is not able to sell this flat ever without our signature.  My question is, is there any way he can sell that flat without our signature and afer forty years when I pass away would he be able to sell?  We live out of town so we cant keep an eye on the flat.  My brother currently lives in it and he is managing all the affairs of the flat.


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