Ravi G. Reddy, Vijayavada

My maternal grandfather and his brother jointly owned a land parcel as ancestral property. My mother was the only child of her parents. Unfortunately she passed away a couple of years ago, whereas my maternal grandfather had passed away long ago. Neither he nor my mother left behind any Will. Now, the family of my maternal grandfather’s brother is planning to sell the land. As I do not possess any documents of the property, do I have any rightful claim in the property?

Yes, you would be entitled to a share in the property of your maternal grandfather. The quantum of your share would depend on the other Class I heirs surviving at the time of your maternal grandfather’s demise.

Considering that your late maternal grandfather did not leave behind any Will, his property would devolve by way of intestate succession and your late mother being a Class I heir in this case is entitled to a share in her father’s property.

In this context, the share your late mother inherited would be considered as her separate property to which Section 15(1)(a) of the Hindu Succession Act, 1956 would be applicable. Pursuant to this provision, the sons, daughters and husband of the deceased female are entitled for a share in the property, simultaneously. Consequently, being a Class I heir of your mother, you are entitled to a share in the property.

It has also been held by the Supreme Court of India in Arunachala Gounder vs. Ponnusamy Civil Appeal No. 6659 of 2011 that in case, a female Hindu dies leaving behind her husband or any issue, then Section 15(1)(a) comes into operation and the properties left behind, including the properties which she inherited from her parents would devolve simultaneously upon her husband and her issues as provided in in the Hindu Succession Act 1956.

M.S. Mani Gupta, Partner, Sarthak Advocates and Solicitors

Pulkit Karia, Surat

I have my parents and younger brother in the family. We live in a rented house but now want to buy a house  of our own. My father is exploring different properties where we can move after around two years. I have been working for a few years and have Rs 3 lakh savings that I want to contribute in the house purchase. Please suggest where I should keep my money to maximise it within this time.

Please remember to choose safe options with this money because the time frame of the investment is just two years.

Option 1: Park the money in bank fixed deposits (FDs). The interest rates are high right now and you can get good rates. Go in for a cumulative FD and try to match the time when you require the money with the tenure of the FD. However, investing in an FD for any such purpose where the time period is not exactly known may not be advantageous.

Option 2: Park the money in debt mutual funds. You are likely to earn better returns now in debt mutual funds than FDs in the current interest rate scenario.

If you wish to contribute even more, you can either explore taking a loan yourself or offer to contribute partly if your family is likely to take a loan. You can contribute for the loan equated monthly instalments (EMIs).

Please note that you will get the tax benefits on the home loan payment only when the property has your name too.

Col Sanjeev Govila (Retd), CEO, Hum Fauji Initiatives