Please provide the answer for this scenario,
Parent ( Father or Mother or both ) borrowing loan and they expire before they repay will that loan will be accountable on their kids legally ? please advice.
Asha (Student ) 15 February 2012
Please provide the answer for this scenario,
Parent ( Father or Mother or both ) borrowing loan and they expire before they repay will that loan will be accountable on their kids legally ? please advice.
Kumar Doab (FIN) 15 February 2012
It is felt that if at all, the liablity is limited to the % of estate inherited from the parent(s).
You should not sign on any document produced by lender,until or unless the documents are examined by your lawyer and you must proceed under expert advice of your lawyer.
Chaitanya_Lawyer_Mumbai (Lawyer) 15 February 2012
Yes.As a legal heir,you are liable to pay the loan if you are inheriting property from him.
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