There is partition of huf in which there is movable and immovable property is it first required to create partition deed on 500 stamp for both properties and second then register the immovable property on partition with registry office by paying the applicable duties. four coparceners in the property father (karta) , mother and two sons. all COPARCENERS agree to give to mother (ONE COPARCENER) in writing of movable and immovable property on full partition of huf . is this possible ? any difference between dissolution or partition of huf.
1. partition deed can be made on 500 stamp paper
2. check your state law for applicable stamp duty
3. get the partition deed registered with Sub-Registrar
4. thereafter formal documents like release deed can be executed and registered between the coparcenors as per agreement in partition deed
5. once HUF property is partitioned, the HUF stands dissolved
6. Mother is technically not a coparcenor of a HUF
7. The coparcenors are the grandfather, father, sons, daughters and grandchildren
one daughter of karta which has got married few years back. whether she is required to be mentioned in the deed as 5th coparcener and signature of her is required in the deed. or not required as she is married. whether the partition can be done at the mid of year , then income tax return can be filed for upto that date. whether pan card can be surrendered or it automatically is nullified. taxation on complete partition if any. partition of cash, bank balance, fixed movable assets and immovable property building.
1) partition deed should be duly stamped and registered
2) other coparceners can relinquish their share in property
3)HUF is dissolved only on the partition of property between the members.
1. daughter is a coparcenor regardless of her marriage
2. so it is advisable to make the daughter a party in partition deed
3. partition can be done anytime. Tax planning your accountant can do
4. intimate the authorities about dissolution of HUF and partition of HUF property among coparcenors as per partition deed
Dear Client,
Partition is the severance of the status of Joint Hindu Family, known as Hindu Undivided Family and once the status of Hindu Family is put to an end, there is notional division of properties among the members and the joint ownership of property comes to an end.
If partition deed reduced into writing than registration is mandatory otherwise invalid. Oral partition valid.
Dissolution of HUF occurs when partition of HUF’s property is done.
First partition will effect than release deed in favor of mother by other members. Movables shall directly be gifted to mother, no need of registration.
Sir first make a single partition deed on applicable stamp duty as per state and register same with the sub registrar by paying the registration fee.
Further you all can relinquish in favour of mother the movable and Immovable property you want to give her through the registered relinquishment deed.
Yes it is required as after amendment she is also coparcener and she need to sign the partition deed and if don't want to take share then relinquish same in favour of mother or other family member.
Yes it can be done in mid of year there wont be any issue, return for the same year can be filed and further if HUF is dissolved then in that case the PAN card can be surrendered.
See Since there is no income it is already earned property and it is just share no tax as such applicable.
1. HUF "CANNOT" be Partitioned, BUT can be dissolved, by following due procedure of law.
2. After dissolving, the residual property in the HUF, can be partitioned to the family members, by executing a registered Family Settlement Deed.
Keep Smiling .... Hemant Agarwal
1. Partition deed has to be executed i.e registered in the office of jurisdictional sub-registrar. In so far as stamp duty is concerned you must consult a local lawyer as stamp duty is not uniform across India.
2. The coparcenors will then be at liberty to execute the release deed. This will result in dissolution of HUF.
3. Mother is not a coparcenor. The 2005 amendment to Hindu Succession Act makes only the daughter of a coparcenor a coparcenor, not the mother.
4. The marriage of a daughter has no bearing on her coparcenory status.
If the properties belonging to the HUF is proposed to be partitioned among the coparceners, then the HUF will be dissolved.
Partition under Hindu Law, can be total or partial. In total partition all the members cease to be members of the HUF and all the properties cease to be properties belonging to the said HUF
Under Hindu Law once the status of Hindu Family is put to an end, there is notional division of properties among the members and the joint ownership of property comes to an end. However, for an effective partition, it is not necessary to divide the properties in metes and bounds.
A father in his right as patria potetas or otherwise can effect a partition between himself and his son of the joint family property of HUF. However, he has to allot equal shares to the sons.
Partition is not a transfer hence if other coparceners would like to give away their shares in favor of their mother, they can execute a registered release deed relinquishing their rights in the property.
one daughter of karta which has got married few years back. whether she is required to be mentioned in the deed as 5th coparcener and signature of her is required in the deed. or not required as she is married.
She as a coparcener is entitled to a her legitimate share in the HUF, hence she has to be allocated her respective share in the property in the event of partition.
whether the partition can be done at the mid of year , then income tax return can be filed for upto that date.
Yes.
whether pan card can be surrendered or it automatically is nullified. taxation on complete partition if any. partition of cash, bank balance, fixed movable assets and immovable property building.
On dissolution of the HUF, the PAN card of HUF becomes infructuous, hence it would be better to get it cancelled.