Difference between ancestral and self acquired property.

shyam (Querist) 25 February 2010 This query is : Resolved
Dear Experts,
please tell me the difference between ancestral and self acquired properties.please also tell me the acts and sections under which they are defined.

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Raj Kumar Makkad (Expert) 25 February 2010
Though Self Acquired property and ancestral property words have been defined in various Acts but the relevant Act is Transfer of Property Act, 1881 wherein under its section2 the definition has clearly been defined.

An Ancestral Property means a property inherited from father which was inherited by him from his father. This mean if a property in inherited from a father to his son and then him to his son then such property becomes ancestral in the hands of grandson (grandson includes granddaughter also) and father includes mother also).

On the other hand, if a property is inherited from his father/mother which was purchased/got transferred in their name by them through his own resources or if a property is purchased by anyone in his name, such property is called self acquired property.

Guest (Expert) 25 February 2010
i do agree with Mr Makkad

seshagiri Rao (Expert) 25 February 2010
Any property acquired by a person from his ancestors is his ancestral property.
The property acquired by a person with his exclusive resources and also the property got by him exclusively through a will or a gift deed also are his self acquired property.
The term ancestral property is defined under section 2 of Transfer of property Act1881

Raj Kumar Makkad (Expert) 25 February 2010
Thanks Mr. Sheshagiri for completing my reply.

Vineet (Expert) 26 February 2010
Dear Sir(s)

Would you please provide the relevant section or clause of TOPA, 1881 wherein the term ancestral property has been defined. I have an old copy of the Act and thus unable to locate the same which might have been inserted by a later amendmend.