Financial rights 101: What every Indian women must know

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Teena Solanki (45), a resident of Amethi in Uttar Pradesh, got married 15 years ago in a moderate ceremony. Though her parents couldn’t afford the demands put forth by the groom’s family, they managed to gift a car (bought on loan), some gold and a plot of land in the hope of a happy married life for Teena.

A few years later, the husband died due to heavy drinking and smoking. The in-laws sold the gold and land for survival. Teena was left empty-handed with no financial backup to live a life of her choice. Patriarchy is an evil that women in India have been facing since birth and the idea of fighting for their rights is an alien world for most.

The Hindu Succession Act (2005) was amended 16 years ago but how many women are aware of these terms? Women in most parts of the country depend on the male members of the family for everyday expenses. They hardly take financial decisions for themselves.

Women’s right over husband’s property

“Indian women are generally not aware of their right to “Streedhan”. As per Section 14 of the Hindu Succession Act, 1956, a woman has an absolute right to all the movable and immovable assets or gifts that a woman receives before, during, or after her marriage from either side of the family. So, women are not bound to share the financial gifts received with their husbands. However, this right is only applicable to Hindu Women,” Vijay Pal Dalmia, Advocate Supreme Court of India and Delhi High Court, Partner Vaish Associates Advocates told Money9.

If a married woman is unable to support herself financially, she has the right to claim maintenance by the husband.  A married woman also has a right to seek maintenance and alimony. For Hindu, Buddhist, Jain, and Sikh women – the husband’s property is equally divided between the wife and his children. The case remains the same even after the husband’s death. Divorced women cannot claim right on the property of their former partners after alimony and maintenance are settled.

If a Muslim woman’s husband dies, she is entitled to 1/8th of the property if the couple had children. Otherwise, the wife gets 1/4th share. Christian, Parsi, and Jew women are entitled 1/3rd of the husband’s property if they have children and half share without kids.

Women’s right over father’s property

According to the 2005 Amendment of the Hindu Succession Act 1956, a daughter, whether married or not, has equal rights to inherit her father’s property as her brother. However, it must be noted this Act applies to cases without a will. But, if for example, a person legally bequeaths his entire property to his son or daughter or even a complete stranger – one can do nothing to fight it.

Christian daughters also have an equal share in their father’s property according to Christian law. Meanwhile, Muslim girls don’t enjoy the same share in the property as per their existing laws. The daughter receives only half the share as compared to the son.

Documents required for a legal battle

A legal heir certificate is the most essential document to fight a property dispute in the courts of law. You may get it from the executive magistrate (tehsildar).

The reason behind low awareness of women’s rights

“Illiteracy, low-quality education, social pressure, stigma and fear of social (family) boycott and repercussions from family members are some of the primary reasons because of which women are not aware of their financial rights, or have the willingness to assert the same,” Vijay Pal Dalmia asserted.

He further insisted that women in India should start believing that they are equal to the other family members and have a right. Sense of equality is important. Women have to break their psychological barrier about the inferiority and social stigma and repercussions. Savings, investments, and insurance should definitely form part of a woman’s strategy for safe and secure future.

Social media to the rescue

Social media has played a significant role in raising the voices of women deprived of their financial rights in the family, society, and even at the workplace. Several voices have come together to ring a bell around equal pay and equal opportunities for both men and women at the workplace as well.

“Thanks to social media, electronic and print media, and education – women have started asserting their rights in the matters relating to finances, properties and their personal life. There is a massive shift in women’s mindset which is applaudable. Women have also started approaching courts for claiming their financial and property rights from the other male members of the family,” Dalmia explained.

While there may be a long road to achieve equality, one can at least begin practicing it at home. The next generation must be brought up more informed about their rights and duties.