Prakash Iyer 17 July 2022
Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 17 July 2022
AKSHANSH SINGHAL (ADVOCATE) 17 July 2022
YEs YOU ARE LIABLE TO PAY THE LIABLITIES TO THE EXTENT OF MONEY RECEIVED FROM THE DEATH BENEFITS.
Prakash Iyer 17 July 2022
SIVARAMAPRASAD KAPPAGANTU (Retired Manager) 17 July 2022
Yes Sir, your liability is limited to the extent of assets you are inherting from him.
In case the liabilities are more, you are not liable for the differential amount that is more than the amount you inherit.
If the liability is less than the amounts you inherit, you need to clear entire liability and you can take the net amount after clearing the liability.
Ensure that the liabilities are in fact actally incurred by your deceased brother and the claims by his creditors are genuine.
Prakash Iyer 17 July 2022
G.L.N. Prasad (Retired employee.) 17 July 2022
Keep all his assets and liabilities and record them in a statement certified by Chartered Accountant with all proof and contact a local advocate, as you are liable for his liabilities if you share his assets. Do not assi,e that they can not find his assets as bank accounts, amounts settled can be easily found by financial institutions.....
Dr J C Vashista (Advocate) 18 July 2022
You have no option but to share all the liabilities and assets of deceased.
Prakash Iyer 18 July 2022
P. Venu (Advocate) 19 July 2022
You liability, in the given context, is limited to the assets/estate, if any, you have inherited from the deceased brother. However, the creditors cannot unilaterally enforce the payment. They need to abide by the due process.
Shashi Dhara 19 July 2022
If loan exceeds you are not liable to discharge his excess debts,