Once an ancestral property is divided/partitioned, it halts being an ancestral property and becomes the only inherited property.
The inherited property is any property which a person inherits through a Will after the owner’s death or receives as a gift. Ancestral property is inherited by birth. Inherited properties can be obtained from any family member. Regardless, a person should know that inherited properties from his mother, grandmother, uncle, brother, or other family members don’t qualify as ancestral properties. Likewise, properties passed on from the father, grandfather, great-grandfather, and great-great-grandfather only qualify as ancestral properties.
Furthermore, any property a son obtains as a gift from the father or grandfather will not qualify as ancestral property.
The ownership of an ancestral property starts right from birth. If a male kid is born within the four-generation lineage, he automatically inherits the ancestral property.
The partition can be made by mere declaration to divide. When a joint-heirship partition occurs between brothers, they will acquire equal shares in the property after partition. For instance, if there are three brothers, each will take 1/3rd of the ancestral property after partition.
According to the Indian Succession Act of 1925, a “Will” or Will document is a legal declaration of the maker of the Will about his property that they wish to take effect after his death.
Yes, Intestate succession laws under the Indian Succession Act differ for different religions. For example, Hindus, Muslims, and Christians have different succession laws in the absence of a Will.
The Hindu Succession Act applies to Hindus only, including Jains, Sikhs, and Buddhists. While the Indian Succession Act applies to those not covered under Hindus or Muslims.
A self-acquired property is any property not acquired as part of a joint family or coparcenary relationship, i.e., a property a person receives with their own money and is not inherited.
Ancestral property refers to any property inherited for up to four generations.