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amit (acc)     18 July 2012

Debt payment by children

I HAVE A VERY BIG PROBLEM, MY FATHER WAS A BUSINESSMAN AND HE GOT  A CC LIMIT FROM THE BANK. OUR PROPERTY WAS MOTGAGED FROM BANK.  THE PROPERTY WAS SOLD BY MY FATHER WHICH IS IN MY MOTHER'S NAME. THE CC LIMIT WAS NOT PAID AND HE DIED 15 YEARS BACK. NOW MY QUESTION IS THAT WE ARE TWO BROTHERS AND MY MOM IS ALSO ALIVE. BANK FILES A CASE IN DRT AND THEY WANT US I MEAN BOTH SONS TO PAY THE DEBT. SO LEGALLY ARE WE FORCED TO PAY THE DEBT? IF NOT PLEASE PROVIDE THE SECTION AND RULLING ABOUT THIS .



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 2 Replies

Adv Archana Deshmukh (Practicing Advocate)     18 July 2012

You cannot be forced, to repay the debts of your father unless the property of your father is in your hands(either by intestate succession or will from him) from which you can be compelled to pay his debts. Consult a good lawyer.

amit (acc)     19 July 2012

THANKS FOR YUR ADVICE MAM. PLEASE PROVIDE THE RULLING OR SECTION IF ANY? I WILL BE VERY GRAETFULL


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