An ancestral property is the property of an undivided Hindu family, where four generations of a single family have their shares. In case a partition takes place, such ancestral property shall cease to remain an ancestral property and in turn, the share gained from the joint family would be the self-acquired property of every shareholder or coparcener. Before deciding to sell or manage a property related to your family it is better to seek advice from an experienced Property Lawyers In Jaipur, so as no legal problems would arise in the future.
How many generations of a family shall have shares in an ancestral property?
Up to four generations of an undivided family shall have shares in the ancestral property. Thus, on A’s ancestral property, his son B, grandson C, and great-grandson D shall have inheritance rights.
Undivided Property-
In case property to remain ancestral, no division shall take place upto four generations of the family.
As soon as a partition comes into effect, such property shall cease to remain an ancestral property. ), the Supreme Court held that the property of a joint family shall cease to remain so in the hands of various persons who have succeeded it under Section 8 of the Hindu Succession Act, 1956, as the property owned by them would be as owners and not joint owners.
A property gained as a gift or through the execution of will, shall not qualify as ancestral property but self- acquired property. Thus, such property gained through gift could be given to some other third party by way of will.
Ownership right in an ancestral property-
The right of ownership in an ancestral property is gained at the time of one's birth. While in the case of other inheritances, for example inheritance through will, the right of inheritance is gained at the death of the owner of the property.
Laws governing ancestral property-
Ancestral property in case of Hindus, Sikhs, Jains and Buddhists, is governed under the Hindu Succession Act, 1956.
In the case of Muslims, the provisions of provided under the Muslim Personal Law (Shariat) Application Act, 1937 are applied.
In relation to the Christians, the law treats men and women equally in the case of inheritance and succession.
Who can sell the joint property?
The Karta of the Joint Hindu Family (HUF), has the power to manage family assets as provided by the Hindu law, however the decision to sell a joint property cannot be taken by one or two members. The property has every coparcener’s share in it and hence the consent of the coparceners is necessary to sell a property.
Each coparcener can seek the partition of the joint property and then can sell their share in the property.
In case one’s right in the joint family is denied or in case a member decides to sell the property without the permission of other coparceners, then a legal notice can be sent in this case to demand one’s rights.
The karta can however manage the property and if the situation demands, he is allowed to sell a part of the property for the maintenance of the joint family. These situations where the karta can sell the property could be some distressing situation, for example the repair of the house or to pay some debt, etc; or for some religious purposes.
Ancestral home as a heritage hotel-
Many famous heritage hotels in the country were the palaces of the previous monarchs or people of higher status. Thus, an ancestral home could be turned into a heritage hotel, however, the permission of every coparcener shall be there for this purpose, and also various other legal procedures have to be followed. Hence it is advised to seek the legal guidance from an experienced Corporate Lawyers In Noida who specialises in property law and real estate.
An experienced Corporate Lawyers In Gurgaon could explain to you and also assist you through the various paperwork’s, legal permissions, and various legal procedures required starting a hotel. Thus, it's better to take every precaution in advance regarding a business venture than later finding solutions to various problems related to the legal problems.
Lead India offers you a team of experienced lawyers who have been successfully handling cases related to business start-ups, real estate issues, etc. if you have any problem related to these issues you may contact us legal assistance or advice.
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