19 October 2013
Hi all,
I have a doubt regarding Huf businees.
Suppose in a huf family , the senior member(karta) of the family dies.
He has three son. Is the bigger son automatic becomes the karta of the family or he need to declare something with the consent of other two brothers.
if yes then in how and in which form ?
Assuming that your you are the oldest child also assuming that you are governed by Hindu Mitakshara law. On the death of your father, his HUF can continue and you (being his oldest child) shall be the karta after his death.
19 October 2013
Section 6 of the Hindu Succession Act, 1956, as amended by the Hindu Succession (Amendment) Act, 2005, states that a coparcener is entitled to bequeath his share in a joint Hindu family property by testamentary disposition (by executing a will) or intestate succession. Thus, your father can bequeath only his share in the joint Hindu family property and not the entire property of the HUF, as the entire property doesn’t belong to him and he is entitled to only a particular share in the said property
CAclubindia
