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4 Things To Consider Before Selling An Ancestral Property

Before selling an ancestral property, you must consider the following factors.

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Outlook Money
January 22, 2024
4 Things To Consider Before Selling An Ancestral Property

4 Things To Consider Before Selling An Ancestral Property

An ancestral property is generally undivided, owned by multiple people, acquired from their Hindu great grandfather and passed down to at least three generations. It creates a huge problem during the property sale due to unclaimed rights by one or more heirs. Here are 4 Things To Consider Before Selling An Ancestral Property

What Hindu Laws Say 

The head of the Hindu undivided family has primary rights over property. After his death, it cannot be sold by any one member of the family. If a person alone decides to sell it, other heirs in the family can take legal action to stop the sale.

Post-September 2005, daughters were allowed to claim shares in ancestral properties even after marriage. Most often, an ancestral property holds a sentimental value to people, and they go to great lengths to protect it.

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Things To Consider

Clear TitleThe property should be transferred through an ownership certificate proving that it belongs to the person selling it. A clear title gives you the right to sell the property. It is essential as, usually, the buyer makes sure that the property is, in fact, in the name of the seller and free from any mortgages. A buyer will stop the purchase if the seller does not have a title to the property. So, keep all the papers ready before seeking buyers.

No-Objection CertificateA No-Objection Certificate helps confirm the inheritance of the seller. It is vital to get the property transferred to your name through a No-Objection Certificate in the absence of a will.

Legal ApprovalAny property sale must be approved by the civic authorities to establish that the property is structurally strong and the seller has no pending dues against the property, for example, loans.

Free From DisputesA property involved in a court case is impossible to sell as no one will risk buying it pending a verdict. Moreover, the buying and selling process will require official compliance. As property cases stretch for years in India, no one will knowingly like to invite trouble for themselves by entering into such a deal.

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