To defend his debts of father

Querist : Anonymous (Querist) 23 October 2011 This query is : Resolved
Dear Lawyers, I working in an IT industry and my father is doing the business at my hometown. He took so many loans from banks, kept his estates (including his inherited properties from his parents) in mortgages and loans nothing is left and i came to know that through his contacts he is trying for more loans and he got it. He is not telling to any one where what happened to that money including my mother and his mother too. Is there anything i can do in this part?.

So only thing i would like safe all my estates from him which i have earned through my job by paying EMI's and would like defend that "i not liable to any of his debts" if he is alive or deceased. Can you please provide some guidance on this. I am really afraid of future and i am married having kids.

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Chanchal Nag Chowdhury (Expert) 23 October 2011
1.Make sure that your properties are not joined with him.
2.Maintain all records to show that your properties have been bought with your own sources of income.
3.Never ever give a POWER OF ATTORNEY to him to manage your estates.
4.If U do inherit anything from him, make sure that it can be separately accounted for. Remember, U will be liable for only so much of his unpaid debts as U inherit. Your own will never be accountable for his unpaid debts.

Shailesh Kr. Shah (Expert) 23 October 2011
your liability to debts of your father is restricted up to inherit assets from your father.

Shailesh Kr. Shah (Expert) 23 October 2011
Contact local lawyer, he will assist you further.

ajay sethi (Expert) 23 October 2011
agree with views of shailesh shah/ chanchal chowdhary

Devajyoti Barman (Expert) 23 October 2011
Yes
To be on the more safer side you may file a suit for declaration and injunction in the meantime.

prabhakar singh (Expert) 24 October 2011
SINCE ITS A REPEAT MY ANSWER IS ALSO A REPEATED ONE:
My views in your matter are as follows:
1]whatever has been inherited by your father from his father that originally belonged to your grand father,all sons and daughters of your father has equal rights and your father can create loan for law full purposes as KARTA of family,but right to partition vested in you all can be enforced against him.
2]Whatever is your fathers'self earned property,he is free to enjoy as he chooses and no interference can be created by any of you as sons or daughters.

3]YOU OR ANY OF YOUR BROTHERS OR SISTERS CAN BE HELD LIABLE PERSONALLY FOR ANY OF DEBTS CREATED BY HIM NOR SHALL ANY PERSONAL PROPERTY WOULD BE AT PERIL TO PAY OR DISCHARGE HIS DEBTS.NOR WOULD THERE BE ANY PIOUS OBLIGATION TO DISCHARGE HIS DEBTS BY ANY OF YOU.

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