Write the difference between joint family and self-acquired properties.
Question: Write the difference between joint family and self-acquired properties. Find the answer only on Legal Bites. [Write the difference between joint family and self-acquired properties.] Answer When it comes to the question of property under the ambit of Hindu law, then there can be two major distinctions made for the types of property, i.e., Joint Family Property… Read More »
Question: Write the difference between joint family and self-acquired properties.
Find the answer only on Legal Bites. [Write the difference between joint family and self-acquired properties.]
Answer
When it comes to the question of property under the ambit of Hindu law, then there can be two major distinctions made for the types of property, i.e., Joint Family Property and Self-acquired Property.
Joint Family Property
As per the provisions enshrined under Hindu law, the joint family property is the property that is acquired by the members of the joint family by their joint labour. It amounts to the joint property of the whole family and is not specific to one person. In simpler terms, it can be understood as the property that a head male member of the family purchases using the money which he got by selling a property jointly owned by every coparcener.
Self-Acquired Property
Any property which is not a joint family property comes under the ambit of separate property. It can suggest a property that was once a joint family property but now has been severed and is now separate. Moreover, any property which has been earned through the education of one of the coparceners counts as his own separate property.
Difference between Joint Family Property and Self-acquired Property
- In the event, that a coparcener dies, his undivided interest in the joint family property devolves by survivorship, and not by succession (this is subject to the provisions laid down in Section 6 and 30 of the Hindu Succession Act, 1956)
- The children up to three degrees acquire an interest in the joint family property by virtue of their birth. However, no other coparcener, even the own children of the coparcener, acquire any interest by birth in the separate property of a Hindu.
- A joint family is liable to be partitioned whereas there is no scope for a partition to take place in the separate property of a Hindu.
- In a Joint Family, no coparcener has the right to alienate his undivided interest by means of sale or mortgage. This right of alienation can only be exercised by the Karta of the family. On the contrary, a coparcener having a separate property has every right to freely alienate his property by means of sale or mortgage.