HUF account

Hi,

On the details of the karta, the eldest male member of the family will become karta and HUF will be continued.

You will have to repay the loan to HUF account only.

Please feel free to call/ revert in case you need more clarity.

Thanks and regards

Abhishek Dugar

CA CS B.Com

Hi

If the HUF is continued, the eldest male member shall be the karta. You have to pay the loan to HUF account only.

If HUF is not continued, know how their property is divided?

If karta us dead then senior male member will be karta now. The karta does not dissolve. You can pay the check in the name of HUF only

Dear Sir,

On the death of karta, HUF does not get dissolved by default. If the remaining members of HUF wishes to continue HUF, senior male member would step in the shoes of deceased karta. Assuming HUF would persist you need to repay the loan to HUF only otherwise repay the amount in the ratio as mentioned in the HUF deed.

Hi,

On the demise of the karta of the HUF, the eldest male member becomes the karta.

The repayment has to be made to the HUF account only.

Hope that clarifies.

Regards,

Nikhil.

Now karta will be senoir most member of family and you have to pay loan to HUF only..it doesnot get dissolved on death of karta . (If not decided so)

You can simply transfer the loan amount in the account of HUF and thereafter the legal representatives can distribute the amount between the family members as per the will or as per the mutual discussion will members.

Thanks,

CA Sourabh Pahuja

Hi,

The loan shall be transferred to the legal heirs/ family members of HUF in the ratio they are entitled to the estate of HUF.

The above is on the assumption that HUF is dissolved after death of Karta and the estate is divided among the members of the family.

Regards,

Hi,

HUF is an ongoing entity. After the death of the Karta, there will be another Karta for the HUF (Unless the HUF is dissolved). So, you have to transfer the amount to the same Bank Account or any other Bank Account opened by the new Karta