The Indian legislative system has a comprehensive set of laws that govern matters of succession and property inheritance in the country. These laws have been clarified by court rulings and verdicts, and from time to time, several amendments have also been undertaken to keep them relevant. Let us look at six aspects of the Hindu Succession Act that you may not know about.
Ancestral property is defined as property passed on to the owner through inheritance from the father, grandfather, and great-grandfather and has remained undivided or unpartitioned throughout this period. The right of ownership to such an ancestral property is gained by the owner, his sons, grandsons, and great-grandsons, who are considered coparceners. This was later amended to include daughters as coparceners.
While understanding the Hindu Succession Act, we must read it in context with the exceptions and disqualifications made by the law.
The Hindu Succession Act, 1956, was amended in 2005 in landmark legislation. The amendment removed gender stereotype provisions and made daughters legal heirs of their parents' properties, irrespective of their age or marital status. The law accorded them rights equal to sons.
It is important to remember that the Hindu Succession Act of 1956 and all laws related to inheritance apply only when a person dies intestate. When a person drafts, signs, and registers a will, it takes precedence over the rights of the legal heirs. This is for all assets and properties, including real estate. The beneficiaries named in the will have a legal claim over the property, except undivided ancestral property, which cannot be passed on through a will. For a will to be valid, it is important that the testator is an adult of sound mental faculties and that two people witness the will.
If you are a property owner or are a legal heir and are unsure about the nuances of the Hindu Succession Act, it is a good idea to consult a legal expert or a lawyer dealing with succession and inheritance.
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