That Mr. Pradip and Nitin (Both are Brothers) had taken loan from one co-operative bank in the last year by mortgaging their pvt. immovable property to the bank, the term of loan is 10 years. That Loan repayment is regular. But unfortunately in last month Mr. Pradip passed away and now his properties were transferred to his legal heirs.
Now bank insisting to close the Loan by full repayment of loan.
That legal heirs of deacesed and co-borrower Mr. Nitin are ready to repay the loan as per loan scheduled. and they had executed on agreement thereby confirming their liability to repay the loan. They are also confirmed the charge of loan over the mortgaged property.
but the Bank is not ready that they told the borrower that on the death of the any borrower the loan must be closed as per the legal provisions.
