What is ancestral property?
Ancestral Property
An ancestral property is an undivided property, in which four generations of a single family have their share. Once divided among the stakeholders, an ancestral property would cease to be an ancestral property, and turn into a self-acquired property.
Ancestral property is defined as a property that is inherited from a father or paternal grandfather, or great-grandfather.
Owning and passing on such properties are slightly challenging in large families. This is because there are a lot of misconceptions and myths surrounding such property inheritance. Lack of knowledge is one main reason families end up in disputes or legal hassles.
What constitutes ancestral property in India?
Ancestral property is one which is -
- At least four generations old
- Not divided by members in a joint family. Once the property is divided, the portion received by each coparcener after the division becomes self-acquired property
- Not inherited from the mother, grandmother, uncle or brother
- Not inherited by Will or a Gift Deed
Classification of Ancestral Property
- Paternal Ancestors Property:Under this classification, the Hindu male acquires the property from up to four generations of male lineage.
- Maternal Ancestors Property:A property inherited through your maternal ancestors is another classification of ancestral property.
- Property Acquired by Females:When the females of the house inherit a property, it does not classify as an Ancestral Property as it’s considered as a separate property owned by the females.
- Property Acquired Through Will/gift from Paternal Ancestors:When you acquire a property through a Will or gift from your ancestors, it can either be regarded as self-acquired or ancestral property. This is based on what is mentioned in the Will or gift. If you inherit the property for the benefit of the family, it’s considered ancestral property; however, if there are conditions mentioned on the Will or gift deed, it’s known as separate property.
- Others:If you earn income through the ancestral property and the income is used to purchase another property, then the purchased property is deemed as ancestral property. Also, the income generated through the ancestral property, then the children, grandchildren and great-grandchildren have the right over the income before birth itself.
Want to Claim your Share in an Ancestral Property?
If you have legally inherited an ancestral property, talk to our lawyers to understand your stake in the same. Being a trusted Property Legal Adviser in Pune and other major cities in India, we are known for offering legal aid in the form of Property Documentation Services, Property Law Services, and Property Litigation Services.
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