Power and Liabilities of the Karta
Contents Introduction…………………………………………………………….……………………3 People eligible to be Karta……………………………………………………………………3 Minor as Karta..…………………….………………………………….…………………3 Father as Karta…………………….………………………………….………………….4 Female as Karta before and post 2005……………………………………………………….4 Responsibilities of the Karta…………………….…………………………..……………….4 Powers and Liabilities of the Karta…………………….………………………………….…5 Power to manage family affairs ..…………………….…………………………..….……5 Powers to receive and use family income…………………….……………………….……5 Power to manage joint family business……………………………….…………….……..6 Power to Alienate…………………….………………………………….………….……..6 Liabilities of account…………………….………………………………….……….…….7 Power and liability to represent in suits …………………….……………………….……7 Power and liability to acknowledge debts…………………….……………….…….…….8 Powers to contract debts for family purpose…………………….…………………….……8 Power of Arbitration…………………….………………………………….………………8 Power […]