24 January 2009
If any HUF Property is divided among its members/co-parcenors,then for this purpose does documents contain only %age share of members/co-parcenors or does it also contain(specify) which portion of property belongs to whom?
For e.g A 200sq feet property is on the name of Mr.O now Mr.O divides the property among its 9 children each having share of 20 sq.ft.Now my question is whether documents prepared for this purpose will contain only share i.e 20 sq ft.(per children) or it also specify which portion of property belongs to whom?
24 January 2009
It can be both type. You can also divide it as per share and can also add the specific division of the property. However specific division will be very helpful to avoid any confusion in future or to avoid any litigation among the member.
CAclubindia
