David Jacob
14 August 2009 at 08:47
My Grand father had given his ancestral property to 3 persons. My father,My father's brother (My Chacha) & my Father's Sister (My Chachi). My Chacha sold some of his ancestral property and was in financial debts. So My Father exchanged his large property and also paid money to my Chacha for his small property with the ancestral house. Since my Father has purchased it, will it remain ancestral property or will it be considered to be self acquired property
Ancestral Property
My Grand father had given his ancestral property to 3 persons. My father,My father's brother (My Chacha) & my Father's Sister (My Chachi). My Chacha sold some of his ancestral property and was in financial debts. So My Father exchanged his large property and also paid money to my Chacha for his small property with the ancestral house. Since my Father has purchased it, will it remain ancestral property or will it be considered to be self acquired property