1. HUF consists of all the coparcenors including their lineal descendants howsoever low. It does not matter that the karta or his son have their individual HUFs

2. Yes it is better to prepare a partition deed cum deed of family arrangement and register it

3. no need to take back the loan. It can be adjusted against the shares to be allotted to the borrower coparcenors

4. the amounts can either be equally distributed or there can be unequal distribution. It all depends on the mutual agreement between the parties. A partition deed indeed records mutual agreement between the parties, so it does not matter whether there is equal or unequal distribution. What matters is what the parties have mutually agreed among themselves

5. Ideally yes. Kindly consult your CA too

6. Nothing as such. Register the partition deed so that all are deemed to be aware about the actual situation and no party can take advantage on basis that he did not have knowledge about the partition having been effected in the family

Dear Client,

Partition will effect between sons and their lineal descendant and if mother alive than her also,

Deceased son share will devolve in his wife. Individual HUF shall kept with them.

Registration of partition is mandatory at sub registrar office.

Loan amount shall be adjusted with their share and rest will distribute in equal proportion.

For tax purpose, partition shall be by meats and bound and its dissolution shall be inform to I T office and surrender of PAN, bank acc. etc.

1. The HUF will be extended to the lineal descendants also.

The father's son's children will become coparceners in the HUF by birth.

This will continue till the HUF is dissolved.

2. Deed of partition can be prepared on mutually agreed terms and get it registered in the registrar's oiffice

3. An arrangement can be made for the liquidation of loan amount as per mutually agreed terms and conditions among the coparceners.

4. If in an mutually agreed amicable partition, the terms have been discussed and agreed by all then the partition deed can be drawn accordingly.

5. If the HUF is being dissolved due to partition, then the IT department may have to be notified.

6. Depends on the prevailing situation.

Every coparcener detail will mention, whoever not able to present or walk to sub registrar office can execute POA in next favor to represent on his behalf.

Both options are available either recover and than distribution or loan amount settlement in them and rest paid or loan in excess shall be recover or waived by mutual consent.

Stamp can be of rs. 500/- Stamp duty - 1% of property value or max, 10,000.

This can be advised on perusal of family tree/genealogy.

1. All. What if the lineal descendants tomorrow come knocking and cry foul that the partition is not acceptable to them as it was done without their consent?

2. that depends what is agreed between the parties! whether the loans are waived or are to be adjusted against the shares to be allotted to the borrowers

3. better get the partition deed adjudicated for proper stamp duty payable. Maharashtra Stamp Act says its 2% of the amount or market value of the share or shares of separated property

4. Sir please engage a good competent lawyer and have the deed drafted! No lawyer gives samples! You can search samples on internet though!

Hi,

The partition deed may be registered at registrar's office so that all the sharers may have separate entity after that. The stamp duty may be as per the value of the deed. The taking back or relinquishing of loans depend on the mutual agreement between the sharers and appropriate language can be written as per the agreement.

1. In the partition deed all eligible coparceners are to be involved.

If a coparcener who has not been given a share in the property at the time of partition, he may file a partition suit agaisnt everyone while seeking his legitimate share in the property, then the problem will arise.

2. It is better to direct the members to return or repay the loan availed in order to distribute the proeprty to everyone equally. Dont carry the loan in the partition deed, it may not be acceptable for other members.

3. The stamp duty and the registration is state subject, you may enquire about it locally.

4. You can take the assistance of a lawyer or a document writer for drafting a proper partition suit.