My family, including my parents and two married daughters, owns a property under a Hindu Undivided Family (HUF). We want to remove the property from the HUF ownership. Should we dissolve the HUF entirely and divide the property among all members, or should the HUF sell or gift the property to one of us?
In Maharashtra, can we divide the HUF property among its members using a Dissolution Deed on a ₹500 stamp paper, like siblings do? Which option would minimize registration stamp duty, avoiding the usual 5% charge?
- You must login to post comments
Dissolving the HUF and dividing the property among members will require registration and attract stamp duty. Selling or gifting the property to one member may incur lower stamp duty depending on the value of the property. Using a Dissolution Deed on a ₹500 stamp paper for division is not valid as it does not comply with the required stamp duty regulations for property transfer in Maharashtra.
- Apni Law answered 2 years ago
- You must login to post comments
Please login first to submit.
