Is it bad to sell ancestral property?

Can I sell undivided ancestral property?

While the head of a Hindu undivided family (HUF) has the power to manage the family assets under the Hindu law, an ancestral property cannot be sold by the sole decision of one or part owners, since four generations have their claim over such a property.

Can mother sell ancestral property without consent of daughter?

Your mother can sell a property if she has purchased the same from and out of his own funds and you can not question the same. But if in case where the property came through succession after the death of anyone of your family members and where she got such right in it, she can not sell it without your consent.

Who has right on ancestral property?

Legally speaking, an ancestral property is the one which is inherited up to four generations of male lineage. The right to a share in an ancestral property accrues by birth itself, unlike other forms of inheritance, where legacy opens upon the death of the owner.

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Is ancestral property valid?

As per Hindu law ancestral property does not require any will to pass the property to the legal heir. The legal heir can directly claim in court if his or her share is violated against ancestral property. Once the share of an ancestral property is divided and mentioned in the will by the head of the family.

Is there any time limit to claim ancestral property?

According to section 109 of law of limitation, a Hindu governed by Mitakshara Law has to file a suit for setting aside his father’s alienation of ancestral property within 12 years from the date on which the alien has taken possession of property.

Is sale of ancestral property taxable?

Tax liability of the sold-out ancestral property

(LTCG). This capital gain is taxed at 20.8% (including cess) with indexation. When the property is held for a period of less than 24 months from the date of acquisition, the gains from the property will be termed as short term capital gains.

Can ancestral property be sold without consent of successors?

No, ancestral property be cannot be sold without consent of successors in case of major and in in case of minority you might have to take permission from the court. And if property disposed without consent can be reclaimed.

Can mother give ancestral property to son?

Your mother is the absolute owner of the property; she can transfer the property as per wish. After her demise you can challenge the will if she execute in favour of your brother alone. If he is not probate the will properly it has only scrap value.

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Who has rights on Grandfather property?

A grandson’s right on his grandfather’s ancestral property is by birth. It does not depend upon his father or grandfather’s death. A grandson owns a share of his grandfather’s property since birth. Distribution of property happens in such a way that each share gets further divided into successive generations.

Can a father give all his property to one child?

A father cannot freely give the ancestral property to one son. In Hindu law, the ancestral property can be gifted only under certain situations like distress or for pious reasons. Otherwise, the ancestral property cannot be given away to one child to the exclusion of all others.

Can a dad refuse to will property to his daughter?

No, your father cannot will ancestral property to the sons and all the legal heirs are entitled to an equal share in the property, whether they are sons or daughters. It appears that your grandfather had a freehold property which was not inherited. … The daughters do not have any right over this property.

Is it true that ancestral property once divided becomes self acquired?

It should not have been divided by the users in the joint Hindu family as once a division of the property takes place, the share or portion which each Coparcener gets after the division becomes his or her self acquired property. … Property inherited by will and gift are not ancestral properties.

What is the difference between self acquired property and ancestral property?

Unlike an ancestral property, you are free to give your self-acquired property to anyone you wish to. … The ancestral property will pass on from the father to the son. In case of a self-acquired property, however, the father can transfer the property rights to anyone he wishes to.

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