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Parents took loan is son liable to pay back the loan
16-Dec-2023 (In Recovery Law)
My father and my mother has got loans for their benefits and they signed in documents stating that I (their son) would clear their debts.They have not given me any amount. Now the money lender is threatening me that I would pay back my parent's debt. Is it correct? I am a Hindu . Please guide me.
Kindly tell the last date of payment. If it has been more than three years, then it is time barred debt and is not enforceable.
If it is not, then, the loan is liable to be recovered but only from the personal estate of the deceased. But it involves a lot of technicality in the process. The son is not liable to pay anything from his account. If the lender disturbs, then you may complain either before the Court or to the police for such complaint.
If it is not, then, the loan is liable to be recovered but only from the personal estate of the deceased. But it involves a lot of technicality in the process. The son is not liable to pay anything from his account. If the lender disturbs, then you may complain either before the Court or to the police for such complaint.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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