Anscestral vs self acquired Property/Inheritance rights.
PK
(Querist) 07 June 2010
This query is : Resolved
My father inherited property from my grandfather,as a sole child/inheritor.
He then sold this property and with this money he received he purchased another property.
Half of this property was then registered in his name and half in my mothers name.
Our Mother died 10 yrs back and father is now unsound of mind due to old age.
Mutation and changes were not done in govt land records,after mothers death.
My father has 3 children.
Qtn 1:Can my father gift/transfer his full half share in this property to my brother,without the consent/agreement of other 2 children?.
Qtn 2:Will this property be considered to be anscestral property or self acquired?
Qtn 3:What inheritance rights do all 3 children have.
Y V Vishweshwar Rao
(Expert) 07 June 2010
The Property is not Self acquired
Proeprty of father .The three Children have rights along with father each 1/4th share . Father can transfer his 1/4th share to any one of the child , but he can not transfer the entire proerty to one Child . Father can not transfer the property to one Child deprving the other Children.
PK
(Querist) 07 June 2010
Thanks for clarifying.
What about the rights of 3 children and father on mothers half property?
G. ARAVINTHAN
(Expert) 07 June 2010
How much he sold the old property and what is his share in buying new property?
G. ARAVINTHAN
(Expert) 07 June 2010
Since mother is died and father is of unsound mind, for the 3 children, the property ids to be treated as ancestral and all the three will get 1/3 share in the property.
G. ARAVINTHAN
(Expert) 07 June 2010
Since mother is died and father is of unsound mind, for the 3 children, the property ids to be treated as ancestral and all the three will get 1/3 share in the property.
PK
(Querist) 07 June 2010
The anscestral property was sold for total 40 lacs Rs.
25 lacs went into buying a plot and then building a house on it.
Balance was invested in NSC postal bonds in his and mothers name.
