Ceiling limit on future acquisition by inheritance, request or by sale in execution of decrees, etc

Ceiling limit on future acquisition by inheritance, request or by sale in execution of decrees, etc.

1. (1) Any person who acquires by inheritance, bequest or by sale in execution of decrees, etc. any urban property which by itself or together with other urban property owned by him exceeds the ceiling limit, shall within such period as may be prescribed, file a declaration before the competent authority giving particulars of the urban property owned by him and also the urban property which he desires to retain.
2. (2) The provisions of sections 5 to 13 (inclusive) shall, as far as may be, apply to the declaration filed under this section and to the urban property owned by such person in excess of the ceiling limit.