A HUF or Hindu Undivided Family includes all persons lineally descended from a common ancestor and includes wives and unmarried daughters. The daughter ceases to be a member of the HUF on her father’s side after marriage and becomes a member of her husband’s family.
A HUF cannot be created under a contract; it is automatically created in a Hindu family.
Coparceners-
The Joint family consists of the head of the family, i.e. Karta, all the lineal descendants (male and female) who are the coparceners and other relatives.
Mostly, the eldest male is recognized as the Karta (head). All members who are entitled to the share in the assets or ancestral property of the family are recognized as coparceners.
Every coparcener is entitled to an equal share of the HUF property. Also, only a coparcener can demand a partition in the family. For partition, the consent of all coparceners is required. Coparcener, who is a murderer or has converted, is disqualified from his inheritance in the joint family property.
Now, if we are talking about a family, there would be personal sentiments involved, sometimes issues reach to a level where it is not possible to stay together. There could be some dissatisfaction or any other reason where parties decide to separate.
Partition-
Parties or coparceners could decide to separate from the HUF amicably or through court.
In such a situation it is advisable to contact an experienced Family Lawyer In Delhi, who could guide you through various options which could help you decide.
Court proceedings are lengthy, time taking, costly and thus a tedious process. Even after all this, it's not guaranteed that a satisfactory outcome could be obtained.
The other option is to come together and settle the dispute without harming the family ties.
Partition through Settlement-
A family settlement is a mutual agreement between family members regarding the property division. A family dispute may also involve assets such as cash, money in bank accounts, jeweller, automobiles, etc.
Families settle disputes relating to the partition of the property through settlement so as to prevent themselves from getting involved in the court proceedings.
Benefits of Family Settlement-
· Helps parties from not getting involved in unnecessary court proceedings.
· Matter is solved in a short time, without wasting time, or money.
Procedure for settlement-
Generally, while settling the property disputes and partition amongst the family, an outsider or senior person is involved or a Property Lawyers In Delhi is appointed who assists and guides the family to come to a solution which would be acceptable to all.
As per the provisions of the Income Tax Act of 1961, settlement agreement is not a transfer of property or a gift, thusv exclusive transfer of property documents are required to be presented with the settlement agreement so that an actual transfer of property could actually take place.
Legal requirements in partition settlement suit-
· Simply agreeing to a partition won’t finalise partition. Other requirements are also required to be fulfilled.
· The property settlement document is required to be signed by all the members of the family, if not signed; the legality of such settlement could be challenged at any later date.
· For safety, signatures of two witnesses should also be included.
Partition Suit in family disputes-
· The first step shall be to draft and send a legal notice to all the other legal heirs of the property related to the joint family. An experienced Best Property Lawyer In Delhi would draft such a notice which would include the share of each co-owner, details of the property in question.
· In case the family members/ co-owners fail to reply to the notice or if they send a vague reply, a partition suit will be filed in the court under whose jurisdiction such property lies.
· A self acquired property, i.e. the property acquired by an individual by his own resources, is not the part of the joint family property, unless the individual dies without allotting the property to someone in his will
Registration-
· Under the Section 17 of the Indian Registration Act, 1908, to ensure the validity of the settlement of the property, it is necessary to register such settlement.
· Also, a stamp duty is also applicable to the partition deed.
A family settlement deed can be challenged when-
· The agreement has been brought in by a fraud
· If the agreement was signed under coercion.
· If there has been a manipulation of facts relating to the title, etc of the disputed property
· If there was irregularity in the execution of the deed.
Lead India provides a wide pool of experienced lawyers, who provide guidance, as well as assistance in issues related to property matters as well as partition.
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