Query relating to liability on legal heir

virender mahajan (Querist) 05 April 2013 This query is : Resolved
Dear sir.
My father was in liquior business.since 1983-1998.but he has govt debt pending as well as private debt which is huge.i am ca working in industry.i am in very tention sir.the cases are pending .i am very tensed .i want to know whether i am personaly liable to these unexpected debt.i am married ..and whether i have to go to jail also .and extent to which i willl be liable .pls help sir

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ajay sethi (Expert) 05 April 2013
you will be liable only to extent you inherit your father property . dont worry you wont go to jail

virender mahajan (Querist) 05 April 2013
My father was sole proprietor .the debt he was liable was of year 1998.

Devajyoti Barman (Expert) 05 April 2013
If the debt was not secured, you are not liable.
Son's pious liability to repay the debt of his father is not more at force.

RAJU O.F., (Expert) 05 April 2013
You don't have any personal liability on the dues of your father unless you had executed guarantee for the dues. But on the death of father your liability would be upto your share of the asset of your father, which can be excuted only through court.

Raj Kumar Makkad (Expert) 05 April 2013
Nothing to add more in the given replies.

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