What is Property?

The word “property.” is taken from the Latin word “propertietat” and its French equivalent “proprious,” which denotes ownership of an object. Property is divided and classified in many ways. Mitakshara and Dayabhaga were the two main schools before the adoption of Hindu law. The properties are separated into two groups by Mitakshara School: blocked property and unobstructed property. Furthermore, the property is split into two halves under Hindu law: separate property and joint family property, following the adoption of Hindu law and the closure of both primary schools.

Key Takeaways

• Article 220 of Hindu law divides property into two categories; i.e., joint property and separate property.
• Joint family property is also referred to as coparcenary property.
• Joint family property is made up of the following: ancestral property, assets that the joint family members have collectively acquired, member’s distinct property “thrown into the common stock” and assets obtained by all or any coparcener using monies contributed to the joint family account.
• Hindu Succession Act, 2005, Indian Succession Act, 1925, Transfer of Property Act, 1882, and the Registration Act, 1908 play an important role to cover the ambit of property.

Types of Property

There are mainly two kinds of property, such as:

1. Joint Family Property

Joint family property refers to the assets acquired by a family using their combined finances. This property caters to the needs of the entire family. When the head of the family, usually the male member, uses money obtained from selling something jointly owned by all family members, the property he purchases with it becomes joint family property. This means that the property belongs to the entire family collectively.

Additionally, established laws help in merging individually owned property with jointly owned property. For example, if A, who is the father of B and C, inherits property from his ancestor Z, that property is considered joint family property for A, B, and C.

Key Points to Remember:

• Joint family property is acquired using shared finances and serves the needs of the entire family.
• When the head of the family uses money obtained from selling jointly owned property, the property acquired with it becomes joint family property.
• Well-established laws assist in combining individually owned property with jointly owned property.
• Inheritance of property from ancestors is also considered joint family property for all family members.

2. Self Acquired Property

The term “separate” here indicates that the property was once collectively owned by the family but has since been divided and is now owned individually.

Self-acquired property is obtained through personal effort or labor. This includes assets gained through one’s own skills or knowledge. Only the owner can create a will for their self-acquired property. Self-acquired property encompasses any asset not considered joint family property.

For example, if B purchases property using their own funds and in their own name, it’s termed as self-acquired property. This property solely belongs to B, and neither A nor C holds any claim to it.

Key Points to Remember:

• “Separate” in this context implies formerly jointly owned property now divided into individual ownership.
• Self-acquired property is obtained through personal effort or labor, including skills or knowledge, and only the owner can create a will for it.
• It excludes joint family property, giving individuals exclusive ownership rights.
• Property purchased with one’s own funds and in their own name is self-acquired.
• Self-acquired property solely belongs to the purchaser, with no claim held by other family members.

Conclusion

In conclusion, property, derived from the Latin “proprietat” and French “proprious,” embodies the concept of ownership. Under Hindu law, it is categorized into joint family property and self-acquired property. Joint family property, comprising ancestral assets and contributions from family members, serves the collective needs of the family. In contrast, self-acquired property, attained through individual effort, grants exclusive ownership rights to the acquirer. Both forms of property are crucially governed by various legal frameworks, such as the Hindu Succession Act, Indian Succession Act, Transfer of Property Act, and Registration Act. Understanding the distinction between these types of property is essential for navigating legal and inheritance matters within familial contexts.

Joint Family Property and Separate Property — FAQs

What is “property”?

Property denotes a collection of rights over an object. Such rights can include prohibiting anybody else from interfering with his enjoyment of that object, however their exact boundaries are negotiable.

What is Transfer of property?

In response, a living individual transfers property when he gives it to another individual, or even to himself, either now or in the future. Companies or any other type of grouping of people can also be considered living beings.

Who can inherit joint property?

Joint family property does not transfer through a will, in contrast to separate property. Rather, surviving coparceners get the dead coparcener’s share through survivorship.

Who can inherit separate property?

Wills or inheritance rules that apply to separate property can be used to dispose of separate property.

Who decides on the sale of joint family property?

Generally speaking, selling joint family property requires the approval of all coparceners. There may, however, be exceptions in certain situations.

Can a daughter be a coparcener?

Yes, since the Hindu Succession Act of 2005, daughters have equal coparcenary rights as sons in ancestral property.

Reference:

• Legal Studies, Class XI- NCERT

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