uTrade AlgosNo, the HUF trading account cannot be transferred to another family member. The account is linked to the Karta, who is the head of the family and the one responsible for managing the HUF’s trading activities. When the current Karta is replaced (for example, in case of death or due to any other reason), the position of Karta can pass to another family member, typically the eldest coparcener. In that case, the trading account can be transferred to a family member who is the new Karta.
In such cases, one of the coparceners (family members entitled to a share in the HUF) may assume the role of the new Karta. When this happens, the new Karta will need to undergo the KYC process to update the HUF account. To initiate this process, the new Karta can contact Share India’s support team for guidance.
Here’s how to get in touch with Share India:
- Phone: Call our offline support team at 18002030303.
- Email: You can also email them at support@shareindia.com for assistance.
Our support team will guide you through the steps required to complete the KYC process and ensure that all necessary documents are submitted correctly.
Check out our website, and under the Form Downloads section, you’ll find an important list of forms and documents required to update your HUF account and initiate the KYC process.