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Taru Sardana (UBE)     10 May 2010

Liabilities of father to a son

Hi all law experts


my father is starting a business which i dont beleive will succeed. he is taking a bank loan against property.

my question is if the venture fails and the bank auctions off the property (all this is not bothering me) and the bank

is still not able to recover the loan amount. Will i be held liable for the remaining portion of loans??

Please reply as it is urgent.



 2 Replies

Gundlapallis (Advocate)     10 May 2010

NO, unless you are also a partner in the business.

Gundlapallis (Advocate)     10 May 2010

Or a guarantor to the bank.


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