I have an HUF consisting of me, my wife, a 23 year old unmarried son and a 22 year old unmarried daughter. If I want to split my HUF today, how many divisions will I have to do? I mean will my wife get a separate share? If I die, who will become the Karta of HUF, my wife or my son? If I give my entire share of HUF to my son and daughter, will my wife get anything from the HUF claim?
As per Hindu law only a coparcenary HUF is entitled to ask for division of property and a non-coparcenary member like wife cannot ask for division of HUF property. So, though your wife is not entitled to ask for the division of the HUF property, but whenever the HUF is divided, she will get an equal share in the HUF property with the other coparcener.
Under Hindu law only a coparcener can become a karta and after the amendment in the Hindu Succession Act in 2005, the daughter is also made a coparcener. So your son who is the eldest coparcener will become Karta of HUF after your death. If your son expresses his unwillingness to become a Karta, the daughter can be appointed as the Karta of the HUF. Your daughter can continue to be Karta of HUF even after marriage or can be appointed. Your wife cannot become Karta of HUF.
As far as bequeathing the property in HUF is concerned, you can write only a Will in respect of your share in the HUF assets but cannot remove the entire HUF property as you are not the absolute owner of the HUF property. So you can give your share to your son and daughter to the exclusion of your wife.
Balwant Jain is a tax and investment specialist and can be reached on Twitter at jainbalwant@gmail.com and @jainbalwant.
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