What is devolution of interest in coparcenary property?

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Devolution of Interest in Coparcenary Property (Hindu Succession Act of 1956)

Property ownership by various family members is frequent in India. This form of property is known as "coparcenary property." When a family member who owns this property passes away, their portion must be redistributed.

This process is referred to as "devolution of interest." Let's go over what this entails and how it works so you can see how the property is divided among family members.

Who Are the Coparceners?

Coparceners are family members who have had a right to the land since birth. Hindu Succession Law defines coparceners as:

• Parents 

• Children 

• Grandparents 

• Great-grandchildren

Since 2005, the legislation has been changed to include females as coparceners, giving them the same rights to the property as their male counterparts

What is Devolution of Interest?

Devolution of interest refers to how property ownership is passed when a coparcener dies. Instead of being divided among the other family members, the deceased coparcener's portion is transferred to their lawful heirs in accordance with the Hindu Succession Law.

How Does Devolution of Interest Work?

When a coparcener dies, their portion of the property does not automatically pass to the surviving coparcener. Instead, their part is distributed to family members, who are entitled to inherit it. Let's go over how this works in detail:

When a coparcener dies, the surviving coparceners do not inherit their portion of the property. Instead, it is passed on to their legal heirs, which include their spouse, children, and parents.

Distribution of Shares: The deceased coparcener's share is split among their legitimate descendants. For example, if a man had two sons and one died, the property would be divided between the surviving son and the father, according to succession laws.

Equal Rights for boys and Daughters: Prior to 2005, only boys had access to company property. However, the Hindu Succession (Amendment) Act of 2005 altered this. Daughters, married or single, now have equal rights as sons. This means that when a coparcener dies, their part of the property is distributed equally amongst sons and daughters.

Types of Coparcenary Property

Coparcenary property is often divided into two categories: ancestral and self-acquired property. Ancestral property is inherited from ancestors and carried down through generations, whereas personal property is gained through one's own labour.

What's the Difference Between Ancestral and Coparcenary Property?

Ancestral property is inherited and passed down through generations. It is divided among family members according to the rules of succession. Coparcenary property, on the other hand, encompasses both ancestral property and property earned during the coparceners' lifetimes, as long as it is shared among the family members.

How Do I Claim Coparcenary Property in India?

To claim corporate property, heirs must take particular legal measures. This normally entails confirming their relationship to the deceased coparcener and presenting the required paperwork to the legal authorities. Understanding these processes can help prevent disputes and guarantee that everyone receives their fair share under the law.

Conclusion

Understanding how devolution of interest works allows you to better negotiate the intricacies of inheriting coparcenary property. This understanding aids in managing and distributing property fairly among family members, minimising disagreements, and ensuring that everyone's rights are upheld.