Question

What is the treasure trove act in India?

Answer 1

Hint: A source or collection of precious objects (such as gold and silver coins or diamonds) discovered in a location where they were concealed, buried, etc. Since the Treasure Act of 1996, such things have been referred to as treasure instead of treasure trove.

Complete answer:
The 1878 Indian Treasure Trove Act establishes the legal framework for buried wealth. Treasure is defined as "something of any value hidden in the soil, or in anything affixed thereto," according to the book. It only applies to riches that have been buried for less than 100 years.

The steps are as follows:
- Such a treasure is reported by the finder to the Collector in his area.
- A notice is published by the Collector to allow claimants to exercise their rights on a specific date and time.
- The Collector launches an investigation to find out who concealed the wealth and who discovered it.
- The case has stayed pending the claimants' ability to determine their rights in a Civil Court, according to his conclusions.
- The treasure is declared "ownerless" if the claimants do not file a civil court petition or if the court rejects their claim during the stay period.
- The ownerless treasure goes entirely to the finder, but the treasure is claimed by the owner of the property where it was discovered. It is split between him and the discoverer.
- When two or more people claim ownership of the property where the treasure was discovered, the case is put on hold until the claimants may determine their rights in a Civil Court.
- The Collector divides the wealth in accordance with any order of the Civil Court regarding ownership.

Note: The Antiquities and Art Valuables Act, 1972 recognises treasures buried for more than 100 years as "antiquities" and authorises the Central Government to take necessary action about their sale, export, import, or preservation.