loan taken by the deseased father
Shabeer ahamad
(Querist) 20 February 2016
This query is : Resolved
Dears
Is it possible to withdraw the property by guarentor partially when two documents Pledged together. If bank did so what is the solution.
Shabeer ahamad
(Querist) 20 February 2016
The loan taken by my deseased father. But unfortunately after my father's death the guarentor mutual understanding with the band had withdrawn his documents. Bank cheated us. So to be more clear what details to be taken through rti act to get clear info
Devajyoti Barman
(Expert) 20 February 2016
If the guarantor has withdrawn then what is the problem of the borrower?
It is the headache of the bank to secure its loan, not you the borrower.
Kumar Doab
(Expert) 20 February 2016
Apparently your father availed loan and has died. There was a guarantor in loan and bank has allowed to take back the documents pertaining to guarantee by guarantor.
It is not clear that if the bank has allowed to cancel/withdraw the guarantee, in proper manner.
It is also not clear why you are perturbed
if the guarantor has withdrawn the guarantee and bank has allowed it?
In any case the loan is secured and the successors/legal heirs have the option to pay the outstanding loan and get the property released from bank.
Rajendra K Goyal
(Expert) 20 February 2016
You can get Following information through RTI as legal heir of the borrower:
1. When the said documents were allowed to withdraw and why?
2. whether any additional / extra guarantee / property was taken or not in lieu of such withdrawal?
3. if so what and worth of that??
4. whether the property of guarantor was released during lifetime of the borrower or after him?
5. If in life time whether any subsequent renewal of loan was done and if so when?
6. What is the present position of the loan?
7. Who took the decision to allow withdrawal of property?
Bank was at fault if the property was allowed to withdraw after demise of the borrower.
H.M.Patnaik
(Expert) 20 February 2016
Obtain the info. from the bank through RTI as suggested by expert and you may be able to find out ways to defend your case.
