Can Karta sell HUF property?

The Karta of the HUF has the right to sell the property in the interest of the HUF &/or its members, … So, he can sell the property to your mother with the consent of all the members of the HUF, 3.

Can Karta transfer HUF immovable property?

As far as gifts of immovable properties are concerned, the Karta can make gift of HUF immovable property only for pious purposes and that too within reasonable limits.

Can Karta mortgage HUF property?

The HUF property is not an individual property that it can be mortgaged for the purpose of obtaining loan for a company. The karta can mortgage the HUF property only for the benefit of its members.

Can HUF property be transferred to Karta?

Upon receiving an intimation for such partition, the karta can take steps to transfer a part of the HUF property to such coparcenary (based on his or her interest as on that date) and upon partition the said coparcenary shall cease to be a member of the HUF or have any interest to the remaining property thereof.

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Can Karta sell joint family property?

In this case, taken up by Two-Judge Bench of the Supreme Court, the Court has ruled that Karta of the Family can sell share in ancestral property on account of legal necessity even without obtaining due consent of other coparceners.

Can Karta sell HUF property without consent?

A karta has power to alienate for value the joint family property in three special cases: legal necessity, benefit of estate or for the performance of indispensable duties. … For these purposes, a karta need not take consent of other coparceners of the family, since he has absolute right to manage the HUF property.

Can we sell HUF property without consent?

No, ancestral property be cannot be sold without consent of successors in case of major and in in case of minority you might have to take permission from the court. And if property disposed without consent can be reclaimed.

Can a property be registered in the name of HUF?

A Karta of the HUF or a member of the HUF can hold a property on behalf of the HUF or in individual capacity as a beneficial owner. In the given case in hand the existence of HUF cannot be disputed.

Can HUF take loan from bank?

You certainly can give an interest free loan to your HUF or take a loan from the HUF, but within limits, with regard to both the loan amount and its term.

Can Karta of HUF give power of attorney?

yes he can execute an power of attorney by mention all his contents or specific power by nominating to act on behalf your Dad. …

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Can HUF property be transferred?

Therefore a HUF property cannot be transferred to anyone’s name at the fancies and whims or based on ever changing necessities. You all can sit in a family meeting, discuss the issues and amicably sort out the issues which law cannot provide.

Can HUF buy commercial property?

HUF can buy a Property also: HUF can buy a property and receive rental income. … HUF can claim benefits of section 24 of Income Tax Act,1961: In case when HUF owns a property in his name, it can claim benefit u/s 24 (a) of Income Tax Act, i.e. Deduction of 30% from the rental income.

Can HUF gift property to its member?

In case of HUF, all members would be considered its relative. But as per Section 64(2), the income earn from this gifted property will be considered as income of Donor. This is known as clubbing of income.

Under what circumstances can a Karta alienate the joint family property?

For legal necessity and benefit to the estate, Karta was allowed to alienate the traditional family property. Where the other coparceners are minors, he may alienate joint immovable property to attach not only his interest but also that of the other minor coparceners, given the common family’s needs warrant the same.

Can a Karta of joint family gift Coparcenary property?

The Privy Council, in this case, held that dedication of a portion of the joint family property for the purpose of religious charity may validly be made by the Karta, if the property allotted is small compared to the absolute means of the family. Such alienation cannot be made through a will.

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Can my mother sell property without my consent?

Your mother can sell a property if she has purchased the same from and out of his own funds and you can not question the same. … Even if she purchased a property of of the funds from others she can not sell without getting consent of other family members if any, including you.