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Harivig Sp   25 August 2022

Mortgage loan guarantor

Hello Friends,

I need your opinion for my below issue. Thanks in advance for taking your time and helping me.

My father took a mortgage loan for his business with EMI as 5L. Since his cibil score was less he pleaded and convinced me to be the guarantor. Since I love and work in abroad I sent an email to the financial agent which is --> "I'll sign the guarantor part for the mortgage loan once I'm in India. ". However I never scared my salary information, provided any  documents over email or never signed any documnt as part of this loan.

Now my major issue is that my dad has defaulted for 3months eventhough I've been helping him monthly (1L) to pay the loan for the last 6yrs. 

I want to know where I'm legally liable to take over his financial debt because of the email I sent? Please note no documents were share or signed by me yet.




 2 Replies

LCI Thought Leader Adv. Ravish Bhatt, ADIT, CIOT (Dual Qualified lawyer/ Solicitor International Tax Affiliate CIOT)     25 August 2022


Your obligations will arise only when you execute a guarantee deed/ contract of guarantee.  Your email is only a promise to execute a guarantee and currently you are under no liability owing to default of your father. 

1 Like

Harivig Sp   26 August 2022

Thank you Sir.

Also can you please guide me whether we have2 type of Guarantor (as listen below)

1. Non-Financial Guarantor and

2. Financial Guarantor 




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