• Partition of HUF property

I m Karta of HUF. HUF property includes 1 house and RS 1 Lakh as bank deposit. I want to end HUF. For this purpose I want to partition this property by giving house to one son and give 1/3rd of 1 Lakh to other 3 members of HUF i.e. myself, my wife and my other son. All members are ready to sign this deed. Is this partition valid in relevant law ? What will be stamp duty?
Asked 6 years ago in Property Law
Religion: Hindu

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16 Answers

1.  HUF property simply CANNOT be given away in the manner mentioned by you, simply because HUF is registered as a separate legal entity in the Income Tax records.

2.  You would have to conduct "HUF dissolution proceedings" with settlement terms with strategic clauses, before the property can be given away or partitioned in your desired manner.

Hemant Agarwal
Advocate, Mumbai
5612 Answers
25 Consultations

Invalid partition. First HUF will dissolve than property will partition equally in all members, 1/4th each. Than all 3 by executing release deed register at sub registrar office in favor of son can transfer sole ownership to son.

Stamp duty may not levy due to transfer in blood relative. Registration fee payable. Money can be given by transfer online or cash.

Yogendra Singh Rajawat
Advocate, Jaipur
23079 Answers
31 Consultations

deed of partition has to be duly stamped and registered 

 

ot would be admissible in evidence 

Ajay Sethi
Advocate, Mumbai
99776 Answers
8145 Consultations

It can be registered 

Ajay Sethi
Advocate, Mumbai
99776 Answers
8145 Consultations

yes, this partition deed is valid and it can be registered under Indian registration act in the UP.

Ganesh Kadam
Advocate, Pune
13008 Answers
267 Consultations

The distribution by law comes when there is a dispute. If all are agreed with the settlement deed then you don't have to worry. Yes you can register the same by paying applicable stamp duty

Prashant Nayak
Advocate, Mumbai
34514 Answers
249 Consultations

Yes the partition will be valid if done through family settlement deed. 

Settlement deed should be duly stamped and registered.

Stamp duty for registration differs from state to state.

Yes it can be registered in UP under Indian registration act.

Mohit Kapoor
Advocate, Rohtak
10686 Answers
7 Consultations

- As per law, you being the Karta and the head of the family, having power to manage the family affairs, family property and family business in such manner as he may deem fit, and no one can question your management.

- Further, being Karta , you can ask for partition fo HUF , but other membes of the family are entitled to receive their respective shares at the time of partition. 

- Hence , you are on liberty to partition the property and funds as you deemed fit for the welfare of them.

- Since, all membes are ready with their consent , then the partition is valid . 

- Stmap duty differs from state to state , and as per Registeration act , you should register the same . 

Mohammed Shahzad
Advocate, Delhi
15814 Answers
242 Consultations

Yes this a valid partition and can be registered before the registrar.

 

regards

Anilesh Tewari
Advocate, New Delhi
18103 Answers
377 Consultations

Yes this partition is valid if others are ready to accept the deed can be registered and stamp duty as per value of property shall be applicable.

Shubham Jhajharia
Advocate, Ahmedabad
25513 Answers
179 Consultations

Yes it can be registered under registration act.

Shubham Jhajharia
Advocate, Ahmedabad
25513 Answers
179 Consultations

Stamp duty is applicable in respect of partition of immovable property. If your HUF comprises only of movables and financial assets stamp duty would not be required to be paid. You should execute the partition on a stamp paper and have it attested.

Mohammed Mujeeb
Advocate, Hyderabad
19325 Answers
32 Consultations

yes it can be registered under Indian registration act. 

Mohammed Mujeeb
Advocate, Hyderabad
19325 Answers
32 Consultations

Dear Sir,

Yes, it is valid in relevant law.  It is a family settlement.

A family settlement is essentially an agreement where family members mutually work out how a property should get distributed among themselves. All the parties should be related to each other and have a claim to a share of the disputed property.

Registration would be necessary only if the terms of the family arrangement are reduced into writing.

A stamp duty is applicable on such deeds and the amount would depend on the value of the property involved

Netravathi Kalaskar
Advocate, Bengaluru
4951 Answers
27 Consultations

This is a family partition which if agreed by all the members of the HUF and are signing the same jointly before the registrar, then it is very much valid.

The stamp duty for this may be enquired from the local sub-registrar's office.

 

T Kalaiselvan
Advocate, Vellore
89978 Answers
2492 Consultations

This partition can be registered before the sub-registrar's office , why do you insist on Indian registration act, it will be registered as per the provisions of law as prescribed in the Indian registration act only.

 

 

T Kalaiselvan
Advocate, Vellore
89978 Answers
2492 Consultations

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