Active Stocks
Fri May 24 2024 15:59:27
  1. Tata Steel share price
  2. 174.80 -0.37%
  1. NTPC share price
  2. 374.85 0.68%
  1. State Bank Of India share price
  2. 828.60 -0.45%
  1. ITC share price
  2. 436.10 -1.16%
  1. Power Grid Corporation Of India share price
  2. 318.50 -0.39%
Business News/ Money / Personal Finance/  Who is a coparcener?
BackBack

Who is a coparcener?

Both sons and daughters are coparceners in the family and share equal rights and liabilities over the property

Photo: iStockPremium
Photo: iStock

As per the Hindu Succession Act, 1956, any individual born in a Hindu Undivided Family (HUF) becomes a coparcener by birth. Both sons and daughters are coparceners in the family and share equal rights and liabilities over the property. A daughter remains coparcener even after marriage and her children become coparceners in her share after her death.

With every birth in the family, the proportionate share of a coparcener decreases and with every death in the family, the proportionate share increases.

A coparcener is not the same as a member of the HUF. All coparceners are members but all members may not be coparceners. A wife or husband of the coparcener is a member but not a coparcener in that family. Also, only coparceners can ask for the partition of the property.

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 19 May 2020, 09:55 PM IST
Next Story footLogo
Recommended For You