Bank loan default - guarantor primary house - co-owned

Was the guarantee given by B only in his personal capacity or as the capacity of POA for C, D, & Eas well?

Seek same information under RTI from the bank, as to the responsibility and share of guarantor in default and individual liabilities, as it all depends on documents executed and the conditions stipulated in Mortgage.  Even without RTI, any guarantor can seek such information, and the Guarantor receives such legal notice from Bank on default and proposed action and there is a lot of procedure to be adopted including public advertisement on such taking possession etc., after notice.

If C, D and E are neither party to the loan nor are guarantors they have no liability in so far as the loan and the bank cannot seize the property.

As property is mortagaged Bank will definate proceed against the mortgaged property. Further bank will recover as per mortgaged deed ratio by realising the mortgaged property.

Guranatee for the business loan was given by B in his personal capacity.

Originally posted by : Dr. MPS RAMANI Ph.D.[Tech]
	If C, D and E are neither party to the loan nor are guarantors they have no liability in so far as the loan and the bank cannot seize the property.

Why would bank accept such a property as mortgage if it use it to recover their money? Or did Person B (even with Power of attorney) did not have the right to mortgage the property?

Originally posted by : SHIRISH PAWAR, 7738990900
	As property is mortagaged Bank will definate proceed against the mortgaged property. Further bank will recover as per mortgaged deed ratio by realising the mortgaged property.

Makes sense, so Person C, D and E have essentially no control over the bank's action on the property to recover its dues?

The creditor will have a charge on all that owned by B including his salary, if he is drawing salary from any source.