Self acquired property and ancestral property
ss
(Querist) 11 December 2009
This query is : Resolved
Dear Sir I want to know the exact legal meaning of self acquired property and ancestral property. If a person get a property in lieu of property left in East Pakistan from govt. of India on leasehold basis that too by depositing nominal charge given to a displaced person or refugee can be treated as ancestral property or not ? If yes, pl. help me by providing related rules/reference book or court judgement etc.
A V Vishal
(Expert) 11 December 2009
Ancestral properly means, as regards sons, property inherit from a direct male lineal ancestor, and, as regards collaterals, property inherited from a common ancestor
(1) Property which has never been held by the common ancestor cannot be regarded as ancestral in any sense.
Self acquired property is any property purchased by an individual from his resources or any property he acquired as a part of division of any ancestral/Copacenary property or acquired as a legal heir or by any Testamentary document such as 'Will' etc.
A V Vishal
(Expert) 11 December 2009
Only on complete perusal of the facts, the question raised in your query can be answered.