An HUF has a residential property (in karta's name).
The HUF consists of karta, his wife and his three daughters.
Now, the question is, if the kata dies, how will the succession take place?
Pl. explain with relevent sources. Thx in advance
AMIT (-) 31 October 2014
An HUF has a residential property (in karta's name).
The HUF consists of karta, his wife and his three daughters.
Now, the question is, if the kata dies, how will the succession take place?
Pl. explain with relevent sources. Thx in advance
adv. rajeev ( rajoo ) (practicing advocate) 31 October 2014
After the death of Karta, his property will be divided in to equal share amongst his legal heirs. Wife and three daughters will get equal
AMIT (-) 31 October 2014
Thank you Rajeev sir,
Can you please quote the source (relevent sections) under which this succession will take place?
Because, to the best of my knowledge, in the HSA, there is no such provision. But, I request you to please quote the relevent judgements, sections etc
AMIT (-) 06 November 2014
I agree with Rajeev sir and now I am, myself, giving a little more detailed answer on the question after doing some home work for the benefit of the members
There are two points to be noted. Point one states the scenerio on the death of the karta and point 2 discusses the scenerio on the death of any coparcener (including the karta).
1. The HUF can be said to have been dissolved after the death of the karta. And if karta has not made a will in his capacity as a coparcener, his estate in that case will be amongst his heirs. However, by a consesus among all the coparceners, the eldest coparcener may be made the new Karta of the same HUF the property will remain with the same HUF and the new karta will replace the dead karta.
2 .Hindu Succession (Amendment) Act, 2005, vide Section 6 enables a coparcener (that naturally includes a karta) to bequeath his share (only his share) in the property to any person he chooses by making a will. However, should the karta or any coparcerner die intestate, his share of the property will devolve as stipulated in the schedule - section 8 in the Hindu Succession Act, 1956