Bank loans done by the brother

Nanjunda (Querist) 05 September 2017 This query is : Resolved
Sir, I and my brother was living with my mother in her house and sharing the house hold expenses and we both are doing individual bussiness withoutany connection in bussiness, but last month he died and he has made so many loans with banks and with individuals and now banks are asking that my mother and my self and my wife is leagal heirs and requesting us to clear the loans but they have not mensioned my brothers wife name ,please clarify who willbe liable for those debts which are not known to any one

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Rajendra K Goyal (Expert) 05 September 2017
Have you received any notice from the Bankers?

Mother, wife and children are class - I legal heirs.

Loan can be recovered from the estate left by the deceased, if no estate left, legal heirs can not be forced legally to clear the loan.

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