1. Through Partition of Ancestral Property

• When ancestral property is formally partitioned among coparceners, each gets a defined share

• Once the share is received, it becomes self-acquired property of the recipient

• The individual can then sell, gift, or will it independently

• Partition can be effected through mutual deed, court decree, or family arrangement

• The partition must be complete and documented to establish individual ownership

2. By Release or Relinquishment Deed

• Other coparceners can release their rights in favor of one member via a deed

• The recipient becomes the sole owner, making the asset self-acquired

• The release must be voluntary, registered, and stamped as per state laws

• This method is common among siblings when one is allotted full rights

• Once executed, others lose any future claim to the property

3. By Gift from Family Members

• A coparcener or member can gift their share to another family member

• If done without coercion and as per legal procedure, it becomes self-acquired property

• Gift deed must be registered if the asset is immovable

• Gifted property does not retain its ancestral nature unless gifted as HUF property

• Gift from non-family members always results in self-acquired ownership

4. Through Will or Inheritance

• If ancestral property is bequeathed to a person via a registered Will, it becomes self-acquired

• Inheritance through a Will overrides ancestral character for the recipient

• Once inherited individually (not as part of HUF), it can be treated as personal property

• Legal proof of the Will and mutation in land records are essential

• Property inherited intestate (without a will) continues as ancestral if not partitioned

5. By Conversion of HUF to Individual Ownership

• Property held in HUF can be converted to personal ownership through full partition

• If the HUF is dissolved and assets are divided, each share becomes self-acquired

• Must follow the procedure under Section 171 of the Income Tax Act for tax recognition

• Documentation like partition deed and PAN updates help in legal conversion

• Post-conversion, income and rights belong solely to the individual