What is meant by joint Hindu family?
Joint Hindu Family (HUF) is a form of business organization wherein the members of a family can only own and manage the business. It is governed by Hindu Law. Karta of the HUF is the Head of the family who is authorized to do business on behalf of the HUF. A HUF is also allowed to purchase assets in its name.
What is called joint family?
A joint family (also undivided family, joint household, extended family system) is a large undivided family where more than one generation live together in a common house. A joint family is a form of family where the grand-parents, father, mother, and children live unitedly under one roof.
Who are Coparceners?
Under the Hindu Law, the coparcener is a term to indicate those male members of a Hindu family who have an undivided interest over the ancestral property by birth. … After the 2005 amendment of the Hindu Succession Law, a daughter of the family is also considered a coparcener.
Who are included in Hindu joint family?
A Hindu joint family consists of lineal descendants of a common ancestor. In other words, a male head and his descendants, including their wives and unmarried daughters. A coparcenary is a smaller unit of the family that jointly owns property.
What is a joint family meaning in English?
: a consanguineal family unit that includes two or more generations of kindred related through either the paternal or maternal line who maintain a common residence and are subject to common social, economic, and religious regulations.
What is the legal status of Hindu joint family?
A Hindu joint family is not a corporation. A Hindu joint family has no legal entity distinct and separate from that of the members who constitute it. It is not a juristic person either. Hindu family is a unit and in all affairs it is represented by its karta or head.