Hello Attorney, Need your advise here... My Friend has availed a loan from a bank with out any surity. He has used the money for his child's education & daughters marriage.Unfortunately he had a massive heart attack & expired a month ago. What will happen to the outstanding loan amount, as his son not in a position too re-pay the same. Please advise.
It is not clear to me what exact advice is required. Please clarify?. Just to add, son ( treated as a separate entity from father ) is legally not liable for any amount over and above what he inherits from father.