How to create huf

huf can be created in two ways... 1) from ancestral property . 2). by gift in favour of huf

and remember only a married can form huf...

and the deed format is

FORMAT OF HUF CREATION DEEDS

FORMAT-I

DECLARATION

I, ____________________________ son Of ___________________________________ Residing at ____________________________________________ aged ___Adult do hereby declare-

That I am Karta of ____________________________________________

That I received on behalf of the H U F gift of Rs. ___________ by way of CASH/CHEAUE from my FATHER ________________________________(name of relative of karta of HUF) on dt. _______________ this formed the corpus of the HUF.

That the HUF at present is consisting of the followings members-

I) Shri _____________________, Adult, Residing at _________________

II) Smt. _____________________, Adult, Residing at _________________

III) Kumari _________________-Minor, Residing at ___________________

That the above statements are true to the best of my knowledge & belief. Declare this on _________________

WITNESS: Signature

1. ————————————–

————————————

2. ————————————– (_____________________)

—————————————————————————————————-

FORMAT- II

[To be executed on Rs. 100 Stamp Paper in Maharashtra]

DECLARATION OF GIFT MADE BY ________________________

TO THE HINDU UNDIVIDED FAMILY OF ___________________

I, _____________________________, residing at _______________________ ____________________________________________________________, do hereby declare and affirm as under:

1. That out of natural love and affection borne by me towards the Hindu Undivided Family of ______________________________, I have made a gift of Rs.______ (Rupees _________________ only) as per the following details:

By Cheque No.________, dated __________, drawn on Bank ____________________, ________________ Branch, in favour of ________________________ HUF.

2. The above Gift has been duly accepted by ________________________, as Karta of his Hindu Undivided Family and has been duly acknowledged hereunder.

3. This Declaration of Gift is made to record the fact that I have made this Gift in favour of the Donee as above, who now has the absolute right, title and interest in the gifted amount.

Date: ___________, 200__ ___________________

(Signature of the Donor)

ACKNOWLEDGEMENT OF GIFT

I, ________________________, hereby acknowledge having received the above gift made to my Hindu Undivided Family by _________________________.

Date: ___________, 200__ ___________________

(Signature of the Donee
as Karta of his HUF)