hindu succession act
kamala
(Querist) 24 September 2009
This query is : Resolved
I would like to know about the hindu succession act - whether on death of husband should the wife repay his debts
is it compulsory to produce succession certificate to the bank for changing the liability in her name
if the bank had not asked the person to pay from january 2006, whether law of limitation would apply as on january 2009riven
kamala
(Querist) 24 September 2009
I would like the legal expert opinion on the matterriven
adv. rajeev ( rajoo )
(Expert) 24 September 2009
yes wife will be liable for repayment of debts of the husband.
Always banks usually taken acknowledgment of debt letter from the loanee at the time sanctioning the loan. In my opinion limitation will not applicable.riven
Raj Kumar Makkad
(Expert) 24 September 2009
bank officials generally obtain acknowledgment in advance even at the time of getting signs of the loanee but if the husband of your client had died in Jan 2006 then those signature have no value before the eyes of law and limitation shall definitely come in the way in Jan 2009. Wife is though liable to pay but the same should be within limitation.riven
Y V Vishweshwar Rao
(Expert) 24 September 2009
I agree with Sri Rajeev & Sri Raj
The following facts to be considered !
1- The Limitation has to be c onsidered as suggested by learned friends
2- No Succession Ceretificate is necessary for bank to claim due amount from wife of deceased .
3- Wife Liabity to the extent of the proerties in the hands of the Wife belonging to Husnad - i.e;- to the extnet of the property succeeded by wife
4- The fact- whther there is any Mortgage security in the said Bank loan which will decide the Limitation Point !
riven
Sachin Bhatia
(Expert) 24 September 2009
Yes wife will be liable for repayment of debts of the husband. But Mr. Raj Kumar Rightly said bank officials generally obtain acknowledgment in advance but if husband had died in Jan 2006 then those signature have no value and limitation act shall definitely come in the way.riven
