Murali Krishna Pratapa 17 February 2024
My sister in-law husband took different loans for his own benefits. Does his Son responsible to repay these loans?though he is not given any property to his Son.Does borrowers had right to ask his Son?
Since 3years my sister in-law husband is away from his Family due to extra marital affairs.
T. Kalaiselvan, Advocate (Advocate) 17 February 2024
Any borrower borrowed personal loan is liable to repay them on their own.
The loan cannot be transferred to the legal heirs unless the legal heirs have not inherited any assets from the deceased borrower.
In that case, the liability in the legal heirs would be restricted to the extent of the value of the property inherited.
Advocate Bhartesh goyal (advocate) 18 February 2024
Son is not liable to repay the loan amount borrowed by his father during his lifetime unless guarantee was given by him.
Dr. J C Vashista (Advocate ) 18 February 2024
Whether there is a guarentor of the loan or not ? If so, s/he shall be liable for outstanding loan amount.
Besdies this who has inherited / acquired estate of deceased father as the successor shall be made liable for repayment of debt left behind by borrower from his estate ?
Laxmi Kant Joshi (Advocate ) 18 February 2024
If the borrower is alive then he himself is liable for repayment of his loans .
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
