NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Basics of Estate Planning
Mr. Raman Iyer, a Hindu male, dies without a will, leaving a widow, one son, one daughter and his surviving mother. His self-acquired property is ₹80 lakh. Under the Hindu Succession Act, 1956, how is the property divided among them?
Each of the four heirs gets ₹20 lakh. The widow, son, daughter and mother are all Class I heirs under the Hindu Succession Act, so they share the ₹80 lakh self-acquired property equally and simultaneously.
- AEach of the four heirs gets ₹20 lakh as Class I heirsCorrect
- BWidow and children get ₹26.67 lakh each; mother gets nothing
- CWidow gets ₹40 lakh; son and daughter get ₹20 lakh each
- DSon gets ₹40 lakh; widow and daughter get ₹20 lakh each
Explanation
Widow, son, daughter and mother are all Class I heirs and take equally and simultaneously. ₹80 lakh divided by 4 gives ₹20 lakh each. The option excluding the mother is wrong because she is a Class I heir.
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