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ravi yudha (ceo, non-profit org)     10 September 2020

Children's responsibility on father's debts

Father has 2 sons and a daughter. Mother expired. Father is doing business and has acquired debts for his business.

He also has properties. 

1. House - he has recently  written a will for all his children.

2. Agricultural land - he has transferred this to both of his sons by settlement deed recently.  Name transfer is complete at registrar office.

After his demise, what will happen to his debts? Will the debtors come after 1 or 2 or both? If the land is sold now by sons, can they avoid the debtors? Please advice.

Thanks



Learning

 2 Replies

Suri.Sravan Kumar (senior)     10 September 2020

After his demise, his LR's will be responsible for the debts of the father equally.

kavksatyanarayana (subregistrar/supdt.(retired))     10 September 2020

Yes.  The legal heirs are responsible for his debts also not only for assets.


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