All hindu daughters have equal right in the property of her father now according to the amendment in Hindu Succession Act 1956, passed in September 2005. It states that a daughter can be the Karta of an HUF (Hindu Undivided Family). The Hindu Succession Act is applicable to Hindus, Jains, Sikhs and Buddhists. It applies even to those girls who are born prior to this date.
With this amendment,
- The daughter gets all the rights attached with coparcenary, including the right to ask for partition of the property and to become a Karta of the HUF.
- Only the daughters who are born in the family, will get the coparcenary rights. Other female members, who come into the family by virtue of marriage, are still treated as members only. Thus, they are not entitled to ask for the partition but are entitled for maintenance and shares as and when partition takes place.
- After marriage, a daughter will cease to be a member of her parental HUF, but will continue to be a coparcener. Thus, she is entitled to ask for partition of the HUF property, as well as to become the Karta of the HUF, in case she happens to be eldest coparcener of her father’s HUF.
- Even in case of a married daughter who has died, her children shall be entitled to the shares that she would have received, if she was alive on the date of the partition. In case none of her children are alive on the day of partition, the grandchildren will be entitled to the shares that the daughter would have received on partition.
- The daughter cannot gift her share in the HUF property while she is alive but she is fully capable of giving away her share in the HUF property by way of a will. If a will is not prepared, on her death, her share in the joint property shall not devolve on other members of the HUF but will pass on to her legal heirs.
Buying a home takes a lot of time and preparation. Being well prepared is worth it in the long run.
While buying your dream home, you must always clarify how much it is going to costs you to buy a home. The expenses that comes with owning a home. is first of them. Ignoring additional expenses of buying a home is very common mistakes a first time home buyer makes.
Relying very much on online home value estimation stuffs can be misleading and may costs you both time and money when buying your first home. But, just for assessment its recommended to get all the facts ready.
Some may not give much attention for the property or home inspection but it is one of the worst first time home buyer mistakes of not having proper inspection it can avoid lots of trouble and your hard earned money.
Making changes in you purchase budget before finalizing the deals can become dangerous and can be seen frequently. For first time buyers , the number one reason is awareness.
Not asking questions on doubt, no matter how silly your questions are don’t feel embarrassed to ask . If you have any question for us don’t hesitate to ask.
Definitely. With a promise of protecting the right of consumers and ushering the transparency The Real Estate (Regulation and Development) Bill, provides a legislation to protect home buyers and encourage genuine private players. Passed in March last year the long awaited RERA Act has finally coming into effect from May 1 where consumer is the king.
It will change one’s home-buying experience as the primary aim of the Act is to bring transparency and accountability from all stakeholders. Violation of orders of regulatory authorities may cause imprisonment of up to three years for developers and up to one year in case of agents and buyers . it will make mandatory for the builder to disclose details like approvals received, layout plans, court cases against them,registration etc.
Demand will improve as buyers will have increased confidence about investing in the property market. The real estate prices will remain stable now but rates could rise in the next six months. RERA will boost the confidence of investors. It will protect buyers who have purchased flats in the past. the RERA will provide relief to home buyers. It will help buyers get well-defined product typology and interior specifications. Therefore, Buyers will be able to make informed decision on a well laid-down information.