Difference between ancestral and self earned property.
P.Muthusamy
(Querist) 21 January 2009
This query is : Resolved
A Bequeaths by will equal shares to X and Y jointly in a business firm.
The firm was dissolved by mutual agreement.
X became the owner of the firm having paid half the shares to y be a deed of dissolution which was not registered.
Now after an elapse of 33 years from the date of dissolution, the son of Mr.Y has sent a legal notice through a lawyer to Mr X stating that X has cheated Y to an extent of Rs 5. laks and asks X to hand over the business to y or to him. He being the grand son of A, he claims that it is ancestral property and hence he has some succession to that business. Is it legally valid notice.
PALNITKAR V.V.
(Expert) 22 January 2009
If the property of A was his self acquired property, his grand son can not claim that the property was ancestral. And if the dissolution of the firm was legal, the notice does not carry any weight. The deed of dissolution is not comulsorily registrable. The notice is not valid.
P.Muthusamy
(Querist) 23 January 2009
Thank you very much Mr. Palnitkar.
Adv.Shine Thomas
(Expert) 28 March 2009
The notice is not valid.according to Hindu Law the property to be ancestral in nature should be four generation old.
