Pooled Resources
Marwari's as compared
to their Bengali counterparts in Calcutta have an inheritance law that is
alleged to favor the manitainence of joint family property.
Marwari’s followed
the Mitakshara system where shareholders in a join family property have
their property rights vested in them at birth.
—In terms of the joint
family system, the eldest son of the family would inherit and have as his
responsibility the maintenance of the brothers, who pooled their income.
Due to their capital
accumulation frompan-North Indian trade,
and the ways that families could pool their resources in the Mitakshara system, this made
them more solvent.
—Bengalis on the other
hand followed the Dayabhaga system of inheritance where they would own property separately
but would be considered "joint" because of sharing of hearth.
—Muslim Law, on the
other hand provides a much more dispersed system of inheritance and does not
recognize the joint family as a corporate entity. Not surprisingly, Muslim
convert merchant groups often preferred to retain Hindu family law to keep
their joint family capital together.
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