My father had taken loan on a property mortgage with my uncle. My father passed away and bank people are pressuring me to pay loan . Can I go for one time settlement or can I only pay the principal amount.
Sunilgouda Patil 02 September 2023
My father had taken loan on a property mortgage with my uncle. My father passed away and bank people are pressuring me to pay loan . Can I go for one time settlement or can I only pay the principal amount.
T. Kalaiselvan, Advocate (Advocate) 03 September 2023
If your father and your uncle were joint borrowers then upon the death of your father the bank has to approach the co-borrower only and not the legal heirs of the deceased?
You may come out with more details so that more proper opinion can be rendered.
Dr. J C Vashista (Advocate ) 03 September 2023
Both the borrowers / their LRs are liabie to repay.
![Dr. MPS RAMANI Ph.D.[Tech.]](/img/avatars/my_avatars/84227.jpg)
Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer) 03 September 2023
A creditor has a charge on the property left behind by the deceased debtor. If the property passes on to the legal heir, the legal heir is liable to the extent of the property inherited by him or the amount payable to the creditor, whichever is lower.
P. Venu (Advocate) 03 September 2023
What is the opinion/stand of your uncle?
Member Strength 9,49,014 and growing..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
