Grandson's right over's grandfather's property

Querist : Anonymous (Querist) 18 December 2011 This query is : Resolved
My Grandfather owned a property on his name which was partitioned after his death among 2 sons my father and uncle (During that time my Grandmother was alive).
My father has 2 sons including me,I want to take some cash credit loan by keeping my share (1/3) as mortgage (collateral security).
Property is on name of my father which he got after partition.

Can this be a ancestral property for grandson (me- mature adult of 36 yrs)?
Do I have same right as in case of ancestral property?
Can I pledge my share without partition to bank as security?
Please guide as I have to live my whole life with family and I need money for my business.

Follow Query

Report Abuse

Raj Kumar Makkad (Expert) 18 December 2011
This property is not an ancestral as its partition had taken place during the life time of your grandmother who are its owner. It is now self acquired property of your father hence it cannot be pledged by you rather your father can do so as he is owner of 1/2 share of the entire property. If your father is desirous, he can gift the property in your favour as desired or can become mortgagor in bank in your favour without disposing off his ownership rights.

Advocate Bhartesh goyal (Expert) 19 December 2011
Yes questioned propety is not ancestral.It has already been partitioned between your father and uncle.Now this property is self acquired propety of your father.you have no any right over the propety during your father's lifetime nor you can pledge the property for getting the loan from bank.

prabhakar singh (Expert) 19 December 2011
i go with opinions.

Guest (Expert) 20 December 2011
You cannot do anything on undivided the property acquired by your father by virtue of division made by your grand mother.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries