Yes she has equal share in the same 

1) Need to check her father's property was inherited or self earned.

2) If self earned than no share in the property.

3) If inherited from his father than under ancestral property rules your wife has equal share in property.

The property inherited by your mother in law from her father would be deemed as a self acquired property, and she is at complete freedom to dispose of the property anyway she pleases.

So, daughter has no share in such property.

Any property possessed by a Hindu female is held by her as full owner thereof and not a limited owner.

So she can dispose  of the property as per her choice and preference during her life time.

In this case your wife does not have any legal right to the property unless her mother dies instaste.

Yes as Pradeep succession act daughter have equal right as the son in the property of ancestral nature you can claim the property share of your wife from the property of her grand parent through a partition suit

In life of mother no one has any right in her property she is absolute owner she can divide property on her will. In case of intestate death that is without will only the heirs has right. 

It is not ancestral property 

2) mother can execute will bequeathing property to only sins 

3) daughters woukd not have share in said property 

4) she can also gift property to her sons during her lifetime 

No, the daughter does not have any right on the property. 

Till her lifetime she may distribute the property as per her wish. 

In case, she passes away without a will then only she will have a right on the said property. 

Regards 

Your mother in law is sole owner of said inherited property. 

Your wife doesn't have any share, she cannot have rights to claim in said property. 

Your wife had right if mother expired intestate. In her life time she can give her property to any by her choice.

Daughters cannot claim any share in their mother's properties as a right, not at least during her lifetime.

The solution for this is to involve elders of the family and other well wishers to convince her mother to allot some share in the property to her daughters as well.

1. It is the separate property of your mother-in-law as she had inherited it from her father. A separate property is at par with self acquired property. Hence, she is at liberty to alienate or bequeath it to anyone she desires. 

2. Nobody has any share in her property. 

3. If and only if she dies intestate then it will devolve through intestate succession on all her children including your wife.

1. As per the information mentioned in the present query, makes it clear that you have been seeking answer with respect to the right of a married daughter in the property inherited by her mother through her father.
2. Let me tell you that law of inheritance is applicable only on the Male descendent not on female.
3. As she had received it from her father, it does not make the property as ancestral property for the children of her.
4. This property would be treated as self acquired property of her and she has all right to give to anyone she wishes to, married or unmarried daughter or even son, no one can claim any right unless she dies intestate (without giving property to anyone and also without any Will).