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What comes under definition of ancestral property
14-Apr-2023 (In Property Law)
If father have sold the property gained by his father and purchased a new property with that money. Will the new property called ancestral property or not.
If father gained property from his father as ancestral property and purchased a new property with that money so the new property will be ancestral property but if father gained property from his father was personal property then new property also would be personal property. It's all depends upon the method of transfer of property if grandfather died without any devidation or without execute any will so father will get the property in succession as ancestral property and any property which will be purchase by after sold out the property will be ancestral property.
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Adv. Rohit Jagwani
Gwalior | 100+ Answers
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New property cannot be called ancestral property, but heirs entitled to share in the ancestral property will have right to be compensated in proportion of their shares from the new property.
Heirs can claim share in money received by your father which he got by selling the ancestral property, of course proportionate to their shares.
Heirs can claim share in money received by your father which he got by selling the ancestral property, of course proportionate to their shares.
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Adv. Sandeep Naik
Indore | 200+ Answers
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