What is the difference between ancestral and self-acquired property in India?
Ancestral property is inherited by a person from their paternal lineage up to four generations without division, starting from the great-grandfather. It is jointly owned by all coparceners in a Hindu Undivided Family (HUF). Self-acquired property, on the other hand, is any property purchased, earned, or received by an individual through their own efforts, gifts, or inheritance, over which they have full ownership rights. In ancestral property, legal heirs have a birthright, while in self-acquired property, the owner has the discretion to dispose it as they wish.