Kcc loan payment

Querist : Anonymous (Querist) 06 January 2021 This query is : Resolved
My grand father taken Kcc loan after 60of age with joint account with first son not with second son. Now his dead, the first son telling to pay half of loan to second son.

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When a KCC loan is taken out jointly, both account holders remain liable for repayment, even after the primary borrower's death. If the deceased's property rights transfer to both sons, the second son is also responsible for settling the outstanding loan amount alongside the first son.

Isaac Gabriel (Expert) 06 January 2021
Your father has takenoan for family purpose,for which guarantor was necessary since applicant was above 60. So both should jointly settle it

Advocate Bhartesh goyal (Expert) 06 January 2021
KCC loan is given to agriculturist who is engaged in cultivation.your grandfather availed the loan facility in joint name with his first son. Its do not mean that after his death his first son is only liable to repay the loan amount .After demise of your grandfather his property rights devolve to his both sons so second son is also liable to repay the loan amount with first son.

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kavksatyanarayana (Expert) 06 January 2021
Yes. Agreed with the good advice of the expert Mr. Bhartesh goyal sir.

Dr J C Vashista (Expert) 08 January 2021
Both the sons are liable to settle /repay theoutstanding loan amount despite the fact elder one was also a co-borrower.

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