The main concern of this paper was to examine the changes in the distributional pattern of landholding over the last three generations. The Markov chain model of order one has been used for our study and then test of hypothesis was performed to examine whether the observed process is a realization of Markov chain of order one along with the test for stationarity of the landholding distribution. In order to predict the landownership sizes after one, two, or more generations, transition probability matrix was estimated. From the estimated limiting behavior of the transition probabilities of landownership size classes between the generations the stationarity condition was examined and at what generation there will be no changes in landholding distribution was determined.