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Rama Krishna (Student)     27 October 2014

Father passed away - leaving behind gold/personal loan


 My father passed away 2 months back. He has gold loan and personal loan in the same private bank but in different branches.

 He has nominated my mother for the gold loan.

 The personal loan in given to him based on his salary.

 Now the bank is asking me to pay the personal loan and my mother to pay the gold loan.

 I am unemployed.

Gold loan is taken 3 months prior to his death, personal loan sanctioned 1 week prior to death. I have no idea what he used the personal loan money for.

My Doubts,

- If my mother clears the gold loan will she be also responsible for the personal loan.

- Am I really responsible for paying my fathers personal loan.

Please help we are in a total financial crisis.


Rama Krishna


 1 Replies

Bhavana Deshpande (advocate)     27 October 2014

his loan is to be cleared through his property. if you do not repay the money the bank will attach the properties owned by him to satisfy the loan.

if he did not have any property then you will not have any obligation to repay the money.

the concept is very clear if you want to inherit his property and enjoy it you will be held liable for all loans

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