Do assets received from HUF partition belong to the son’s HUF?

Do assets received from HUF partition belong to the son’s HUF?

We are residents of Mumbai and have an HUF in the name of our father, who owns various movable and immovable properties. It has three married sons, and their family members are members of the HUF. After my father’s death, my eldest brother worked as a Karta at the HUF. We plan to partition the … Read more

Is due diligence by banks sufficient when buying property?

Is due diligence by banks sufficient when buying property?

In real life, too, it’s not uncommon to uncover issues related to properties after you’ve seemingly made a rightful purchase. Sometimes a property is sold twice, to different parties, or the title deed is not clear, or relatives might come into the picture. In fact, National Crime Records Bureau data shows that more than 7,000 … Read more

Estate planning under the Hindu and Indian succession acts to ensure a smooth transfer

Estate planning under the Hindu and Indian succession acts to ensure a smooth transfer

I am a Hindu father with two daughters and a son, living in Mumbai. I own a house and some land in my hometown. I’ve heard about the changes made by the Hindu Succession (Amendment) Act, 2005, but I’m not sure how they apply to my situation. How can I plan my estate to ensure … Read more