Section 27 prescribes the persons who are not legal owners of a house property but still are deemed to be owner of house property.
Section 27 (ii):
The imaprtible estate is a property which is not legally divisible. THe holder of an impartible estate shall be deemed to be the individual owner of all properties comprised in the estate.
After enactment of the HIndu Succession Act, 1956, all the properties comprised in an impartible estate by custom is to be assessed in the status of a HUF. However, section 27 (ii), will continue to be applicable in relation to impartible estate by GRANT OR COVENANT.
CAn any one explain me the meaning of impartible estate by GRANT OR COVENANT. with example??
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