Deblina 16 July 2018

loan repayment advice

My friends husband have 3 lakhs insecure personal loan debt.and some credit card debt.My friend is not joint holder of his husbands bank a/c and credit card.She is only nominee of his husbands bank a/c.Her Father in law who is retired person is owner of the house and she is house wife.If anything happens to her husband then who is responsible to pay the debt.

Reply Follow

1 Replies

ganesh rao (x) 17 July 2018

those who inherit the property of a deceased person are liable to pay off the deceased person's debts to extent of property inherited. in the present case, the wife and her children would be inheriting the property of the husband unless he [husband] made a WILL specifying otherwise.

Father-in-law is not liable for her [your friend] husband's debts thougn he [father-in-law] has a house in his name.