Co Parcener

Can my mother who is not a coparcener be karta in HUF
Source: Livemint.com

The following article was first published in the Mint newspaper on 25th May, 2022. The same was written by our Private Client team at Cyril Amarchand Mangaldas, who frequently publish their comments and opinions in the Mint. The online version of the article can be found here.

My father, who was the karta of our HUF (Hindu undivided family), with my mother, elder sister and I as members, died two years ago. Thereafter, the bank where the HUF account is held is insisting on transferring it only to my elder sister.

Under the circumstances, is there any possibility for my mother to become the karta of the HUF? What is the relevant legal section that needs to be quoted for necessitating a transfer to my mother’s name? Additionally, will there be a change in the PAN (permanent account number)  after transfer of the HUF? Will it also lead to a change in the name of the HUF? 

—Name withheld on request Continue Reading Can my mother who is not a coparcener be karta in HUF?

Photo by Robert Eklund on Unsplash

The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions shared in an article which was published by Moneycontrol.com on 12th August, 2020 and the same can be found here.

The Indian judiciary continues to take progressive steps towards making succession law more women friendly. In the landmark case of Vineeta Sharma v. Rakesh Sharma (Judgment), a 3 judge Bench of the Supreme Court (SC), on August 11th, 2020, held that daughters would have equal coparcenary rights same as that of a son in a Hindu Undivided Family (HUF). The SC clarified two points:

    • Coparcenary rights are acquired by a daughter at birth; and

Continue Reading What is the impact, do wives benefit and other questions about SC ruling giving daughters equal rights over their father’s property answered