Parth Jaiswal 28 May 2023
My grand mother was the proprietor of the firm started by my grand father now she has passed and given ownership to my father and his brother. There is a cc loan against my father inherited property so are liable to pay full loan or can we deny to pay it? Please guide what should we do
Thank you
Dr J C Vashista (Advocate) 28 May 2023
The CC loan is stated to be against the security of the property which has been devolved to successors, accordingly all LRs of your grandmother shall be liable for the CC / outstanding amount of loan.
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