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Right of daughters in father's Equity shares. Father died in 1990
05-Nov-2023 (In Family Law)
Father died in the year 1990, leaving behind Equity shares of companies.
Do only sons have legal claim on equity shares or daughters too have equal rights ??
As per the recent Supreme Court Order it appears that daughters have no right or claim on these equity shares since father died before 2005 and only sons are legal heirs.
Please clarify.
The law which grants daughters a right in the ancestral property on par with a son applied only to heirs where the deceased was alive when the amendment came into force in 2005. If there is no will left behind then the property would succeed to the heirs.
In your case however we are dealing with self acquired property and not coparcenary property. The widow of the deceased and both the sons and daughters will have a share in such property. The rule that you are referring to may apply if it can be shown that the shares were purchased from the proceeds of an ancestral property.
In your case however we are dealing with self acquired property and not coparcenary property. The widow of the deceased and both the sons and daughters will have a share in such property. The rule that you are referring to may apply if it can be shown that the shares were purchased from the proceeds of an ancestral property.
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