hi friends
can any give the diffrence bw joint family & ancestrial properties?
Devakrishnan (Consultant) 12 April 2009
hi friends
can any give the diffrence bw joint family & ancestrial properties?
Rakesh Shekhawat (Advocate) 12 April 2009
Husband, wife and children living together constitute joint family. Property acquired by members of such joint family is presumed to be joint family property while By traditional definition the ancestral properties are those which are obtained from father or paternal grandfather or paternal great-grandfather.
Y V Vishweshwar Rao (Advocate ) 12 April 2009
Joint Family can acquire the properties by their Joint funds and treate the proerties acquired by them by Joint Invesments or joint Efforts and merging their individual Proerties in to Joint Family Proerites and Holding the said Proeprties by the Joint Family Members as its Joint Ownrs- what ever the means /mode of acquistion and including the Ancestral Proerites fallent ot the share of the Joitn family Unit - it is called Joint Family Proerty .
The Joint Family may get the properties from their ancesters /by inheritance - from Fathers / Grand father and all other ancesters - it is called Ancestral Joint Family Property