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Please help, it's about my parents life. What are my legal options
08-May-2023 (In Criminal Law)
Hi, My father have a debt of INR 30 Lakh (INR 20 Lakh Bank Loan and 10 Lakh loan from Local Creditors). The only asset we do have is our home against which we have the loan. I am a salaried man and want to buy the home from my father, take home loan against it and pay off my dad's debt. My main concern is Local creditors to whom my Dad have given blank cheques. I want to know if they apply those cheques, can they claim the house by court?
Hello sir,
Let me clear certain things first of all you please make one thing clear that cheque which you have issued is just for a security nothing else, no one can claim your property just on the basis of blank cheques, second thing you must prove this thing in court if some legal action has been taken that the cheque which your father gave is for security and they cant claim anything else.
Let me clear certain things first of all you please make one thing clear that cheque which you have issued is just for a security nothing else, no one can claim your property just on the basis of blank cheques, second thing you must prove this thing in court if some legal action has been taken that the cheque which your father gave is for security and they cant claim anything else.
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Adv. Naveen Sheokand
Chandigarh | 25+ Answers
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Hi, in my opinion you should consult bank people. They can advice better. So far as cheques given to creditors is concerned; they can always take advantage. Try to solve matter amicably. Any more, write back.
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Adv. Pankaj Chauhan
Mohali | 100+ Answers
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Hello
Local creditors can not claim house in against of loan so nothing to worry about that .they have remedy to recover loan amount only.if you want to know more about you call any time for further advice
Local creditors can not claim house in against of loan so nothing to worry about that .they have remedy to recover loan amount only.if you want to know more about you call any time for further advice
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Adv. Deepak Sabharwal
Amritsar | 200+ Answers
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