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In Mumbai, if a coparcener wants to relinquish their entire share in the HUF (Hindu Undivided Family) assets without any consideration, what documentation is required? Does it need to be on stamp paper, and if so, what value should the stamp paper have? Does it need to be notarized? The HUF assets include only investments in shares and loans given.
Sir, to relinquish a share in HUF assets, a coparcener must execute a Relinquishment Deed on non-judicial stamp paper (typically Rs. 100 in Maharashtra). While notarization is not mandatory, it is advisable for authenticity. The deed should be signed by the coparcener and witnessed by two people. It should be recorded in the HUF's records. Registration may be optional but can provide additional legal validity. Consulting a lawyer is recommended for proper execution. For further legal assistance contact us on our helpline number.