A property which is carried up to four generations undividedly is known as the ancestral property. There are many questions in young minds related to ancestral property and among them one of the most common questions is when ancestral property becomes self acquired?
Self acquired property is the property where the owner of the property has the full control over his/her property. The person has the right to dispose of the property at any point of time.
Once ancestral property is divided it will become self acquired property.
Example of ancestral property turning into self acquired property:Suppose a family has sold some part of ancestral property with the mutual consent of all the co-owner of the property. Due to any financial reasons after the sale of the ancestral property it turns into self- acquired property.
And every co-owner will hold their own ownership title, they have full control over the property and they can sell the property at any point of time.
When ancestral property is willed and later divided as per the will. That property is known as self- acquired property.
This is all about when ancestral property becomes self acquired. Hope this answer is helpful to you.
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When ancestral property becomes self acquired?
Dhruv Sharma
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April 28, 2021
2021-04-28T20:21:52+00:00 2021-04-28T20:34:47+00:00Comment
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