Monday, January 16, 2012

HUF CREATION DEED ,GIFT DEED,PARTITION DEED


on Monday, January 16, 2012

Format of Deeds required in case of HUF ( hindu Undived Family ) is given below.First is creation deed ,second is intial gift deed to the HUF ,third is subsequent gifts to HUF and last is complete partition deed .You can use these deeds after slight changes here and there as per your requirements .Further download link in pdf format is given at the end of the POST.
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)


SUBSEQUENT DEEDS

HUF GIFT DEED

This deed of gift is made and executed at Jaipur on this 30th day of November, 2007 by and between:



1. -------------------- W/o/S/O ------------------------- aged about ------- years resident of .....................( hereinafter reffered to as the DONOR and the party on the FIRST PART )

and :

2. -------------------------- HUF, ADDRESS............. comprising the family members ....................(Karta), his wife ------------------------, his son .....................AND...................RESIDENT..............(Hereinafter reffered to as the DONEE and the party on the SECOND PART)



WHEREAS the Donor is the wife of brother in law of karta of the Donee and is highly affectionate to him;



AND WHEREAS the Donor out of natural love and affection towards the Donee have made a gift of Rs.........................../-- (in words...............) by way of account payees Cheque no ................dated ............. drawn on .........................Bank Ltd, ........................... ;


AND WHEREAS the Donee has accepted the said Cheque;

AND WHEREAS the Donor and Donee desires to deduce the covenants of this gift into writing ;


THIS DEED NOW WITNESSETH AS UNDER

1. That the gift so made is without any material consideration and is absolute.

2. That the donee has accepted the same by his free will.

3. That the gift is irrevocable in any circumstances.


IN WITNESS WHEREOF the donor and the within mentioned donee put their respective hands in taken of their having accepted the terms and conditions on the day, month and year first mentioned.


Witnesses Signature

1.

DONOR

Accepted

2.

DONEE


COMPLETE PARTITION OF A HINDU JOINT FAMILY

This deed of partition is made on the ___________ day of ___________ the month of ___________ of the year 200__. Between ___________ s/o ___________ resident of ___________ (hereinafter called the first party) of the first part ___________ ___________s/o resident of ___________ (hereinafter called the second party) of the second part ___________ s/o ___________ resident of ___________ (hereinafter called the third party) of the third part: and ___________ widow of ___________ resident of (hereinafter called for fourth party) of the fourth part.



Where as the further of the second and third parties and husband of the fourth party, namely late Shri ___________ and the first party were brothers, being the sons of late Shri ___________.



And whereas they all constituted a Hindu joint family governed by the ___________ of Hindu law.



And whereas the said Shri ___________ died of the year ___________ leaving him surviving the parties and entitled to claim partition of the joint family estate.



And whereas the family has continued to remain joint and to hold and enjoy all the properties jointly.



And whereas the parties hereto are all the members of the joint family entitled to claim partition and also competent to contract, the other coparceners being the minor sons of the second and third parties.



And whereas the parties hereto have mutually agreed to divided the entire joint family properties into two equal parts and to allot one part to the first party and the other to the second, third and fourth parties.



And whereas the second, third and fourth parties have also mutually agreed among themselves to further divided and one-half part of the joint property allotted to them into three equal parts and to allot a part each of the said three parts to each one of them.



NOW THIS DEED WTINESSES as follows:

(1) That the parties hereto do hereby mutually agreed and declare that they have actually divided the hitherto joint property of the Hindu joint family of the descredants of Late Shri ___________(here give the name of the father of the first party) among themselves into the four Parts specified herein below, as Part I, Part II, Part III and Part IV, and that henceforth the first party shall be the separate owner of the properties specified and included in Part I and second party shall be the separate owner of the properties specified and included in Part II and the third party shall be the separate owner of the properties specified and included in Part IV and each of them shall hence forth hold and enjoy the properties specified and included in his Part in severalty and to the exclusion of the parties other than himself; and the parties hereto do hereby mutually release and relinquish to the other all their respective right, title and interest in the properties specified in the Part other than the Part allotted to himself.

(2) That the parties hereto do hereby mutually covenant with each other that:

(I) The property specified and included in the Parts allotted to each party shall be entered upon and henceforth held and possessed in severalty by each one of them, respectively, without any interruption or disturbance by any party other than himself.

(ii) The parties will, at the cost of one requiring the same, do every such act or thing as may reasonably be required for further or more perfectly assuring the property hereby allowed to each one of them.

(iii) That the parties hereto hereby declare that despite some disparity in the value given which hare against each of the Part II, III and IV given for purposes of payment of stamp on the said Parts, II, III and IV and the value given against Part I which is also given for the purpose of payment stamp duty and registration charges, the partition hereby made is fair and equitable and that while of the one hand the agreed real value of each of Parts II, III and IV is equal on the other hand, the total of the agreed real value of Parts II, III and IV is equal to the agreed real value of Part I.

(iv) That the expression first party, second party, third party and fourth party, shall, unless there by anything contrary thereto in the context, mean and include, their respective heirs, survivors, successors, representatives and assigns.

Part I

Part II

Part III

In witness whereas the parties hereto have executed this deed on the date first hereinabove mentioned.

Witnesses:

1.

(First Party)

2.

(Second Party)

(Third Party)

CA AMRESH VASHISHT, FCA, DISA
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Download the above HUF deeds in PDF format