Coparcenary - Law Dictionary Search Results
Home Dictionary Name: coparcenaryCoparcenary
Coparcenary, A Hindu coparcenary is narrower body than the joint family. Only males who acquire the birth an interest in the joint or coparcenary property can be members of the coparcenary or coparceners. A male member of the joint family and his sons, grandsons and great grandsons constitute a coparcenary, State of Maharashtra v. Narayan Rao Sham Rao Deshmukh, (1985) 2 SCC 321: AIR 1985 SC 716: (1985) 3 SCR 358.'Coparcenary' is a narrower body than a joint family and consists of only those persons who have taken, by birth, an interest in the property of the holder for the time being and who can enforce a partition whenever they like. It commences with a common ancestor and includes a holder of joint property and only those males in his male line who are not removed from him by more than three degrees. Thus, while a son, a grandson or a great-grandson is a coparcener with the holder of the property, the great-great-grandson cannot be a coparcener with him, because he is removed by more...
Hindu joint family and coparcenary
Hindu joint family and coparcenary, a hindu joint family consists of all persons lineally descended from a common ancestor, and includes their wives an unmarried daughters. A Hindu coparcenary is a much narrower body than the joint family: it includes only those person who acquire by birth an interest in the joint or coparcenary property, these being the sons, grandsons, and great-grandsons of the holder of the joint property for the time being. Therefore there may be a joint Hindu family consisting of a single male member and widows of deceased coparceners, Gowli Buddanna v. CIT, AIR 1966 SC 1523 (1525): (1966) 3 SCR 224. [Income-tax Act, 1922 (11 of 1922), s. 3]...
coparcenary
coparcenary pl: -nar·ies 1 : joint heirship 2 : joint ownership ...
Interest in coparcenary property, Devolution of
Interest in coparcenary property, Devolution of, see Hindu Succession Act, 1956 (30 of 1956), s. 6....
Coparceners or parceners
Coparceners or parceners. The name given to persons who until 1926 inherited an inheritable estate by virtue of descents from the ancestor which conferred on them all an equal title to it. It arose by act of law only, i.e., by descent, which, in relation to this subject was of two kinds:-(1) Descent by the common law, which took place where an ancestor died intestate, leaving two or more females as his co-heiresses; these, according to the canon of real property inheritance, all took together as coparceners or parceners, the law of primogeniture not obtaining among women in equal relationship to their ancestor: they were, however, deemed to be one heir; and (2) descent by particular custom, as in the case of gavelkind lands, which descended to all the males in equal degree, as the sons, brothers, or uncles of the deceased intestate ancestor; in default of sons, they descended to all the daughters equally.Coparceners had a unity though not an entirety, or necessarily an equality, of int...
Common stock or common hotchpot
Common stock or common hotchpot, the doctrine of throwing into common stock inevitably postulates that the owner of a separate property is a coparcener who has an interest in the coparcenary property and desires to blend his separate property with the coparcenary property. The existence of a coparcenary is absolutely necessary before a coparcener can throw into the common stock his self-acquired properties. The separate property of a member of a joint Hindu family may be impressed with the character of joint family property if it is voluntarily thrown by him into the common stock with the intention of abandoning his separate claim therein. The separate property of a Hindu ceases to be a separate property and acquires the characteristic of a joint family or ancestral property not by any physical mixing with his joint family or his ancestral property but by his own volition and intention by his waiving and surrendering his separate rights in it as separate property. The act by which the ...
parcenary
parcenary pl: -nar·ies [Anglo-French parcenarie, from Old French parÇonerie, from parÇon portion, from Latin partition- partitio partition] : coparcenary ...
Coparcenary
Partnership in inheritance joint heirship joint right of succession to an inheritance...
Devolution of interest
Devolution of interest, in coparcenary property. [see Hindu Succession Act, 1956, s. 6]...
Net wealth
Net wealth, 'net wealth' means the amount by which the aggregate value computed in accordance with the provisions of this Act of all the assets wherever located, belonging to the assessee on the valuation date, including assets required to be included in his net wealth as on that date under this Act, Commissioner of Wealth Tax v. Bishwanath Chatterjee, AIR 1976 SC 1492 (1494): (1976) 3 SCC 385: (1976) 3 SCR 1096. [Wealth Tax Act, 1957, ss. 2(m) and 21(5)]It means the amount by which the aggregate value computed in accordance with the provisions of this Act of all the assets, wherever located, belonging to the assessee on the valuation date, including assets required to be included in his net wealth as on that date under this Act, is in excess of the aggregate value of all the debts owed by the assessee on the valuation date which have been incurred in relation to the said assets. [Wealth-tax Act, 1957 (27 of 1957), s. 32 (m)]A coparcenary has unity of possession but not unity of owners...
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial