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Author Topic: Transfer of property from HUF to individual  (Read 282 times)

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Offline Hgsc

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Transfer of property from HUF to individual
« on: April 15, 2018, 02:57:54 AM »
Hey recently there was a partition of assets between me and my 2 brothers. Everything regarding assets was mutually agreed on without any problem.

However the property which was given to me is registered under HUF. Now I need to transfer the property from Huf to my name so that I am the sole owner of the property.  What's the cheapest way to do it. I talked to a lawyer I know and  he said that cheapest way would be around 3 lakhs ( including 2.5% for 52lakhs property and some Ammount for other documentation) which would involve dissolve of HUF and he also said that I need to arrange around 40lakhs to show the payment of property to other 2 partners of HUF.

Is there another way to do it as I am in not a good financial position to pay 3 lakhs.

Offline advjaibansal

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Re: Transfer of property from HUF to individual
« Reply #1 on: April 15, 2018, 05:35:44 PM »
Please ask your lawyer to execute a partition deed and get the same registered. Rather than showing this a sale.
jai bansal
Advocate, New Delhi
Supreme Court of India
bansal.jai@gmail.com
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