What is Self-acquired property

Self-acquired property

  • Property which is not joint family property is called separate or self-acquired property.
  • The word separate suggest that the family was family joint but now become separate.
  • When a member separate from joint family, the property acquired by him be treated as his separate property in regard with his brother but it will be regard ass joint family separate as far as his sons are concerned.
  • Property acquired by a Hindu male in the following ways will be considered as his separate or self-acquired property.
  • Property acquired by a Hindu male by his own exertion, it should not be the result of any joint labour with the other member of the joint family.
  • Any property which is not part of joint family property is termed as self-acquired property.

Condition or self-acquired property

1. The property which a person acquired by his own effort without the help of any family members.

2. The property which a person not acquired from his father, grand father or great grand son i.e. his parental ancestor.

3. The property which is acquired by way of gist by the father to daughter in marriage.

4. The property which a person acquired after the partition of joint family.

5. The property which is acquired or inherited as a legal heir or by will or through gift deed.

6. The property which a person acquired by grant of government directly.

7. The property which a property which a person acquired from his income & resource.

 

Right of owner of a self-acquired property

1. Owner has full right to deal with the property in any manner, i.e. right to sell, transfer by way of gift dead a will, and having right to claim.

2. Owner has full right to dispose of the property, i.e. he can transfer his property to any person and even a stranger.

3. Owner has full right over the property and his heirs can not claim any right during his lifetime, and only after the death of the owner of the self-acquired property.

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