635+ Lawyers are online 
Regarding my gift deeded property which is now mortgaged
28-Nov-2023 (In Family Law)
Hello,
My father gifted me a house 2 years back and is registered in my name.
I mortgaged this house and took a mortgage loan from Bank to repay some business loans made by my father.
I am now paying the emi and it's set for 15 years more.
My father passed away recently and now I hear that he had made some more loans in business which I was not aware of.
I'm not a personal guarantor of this old loan.
However, I have received the house as gift from my father.
1. Can this property be claimed or attached to the old loan made by my father?
2. Can I sell this house now?
3. Can I gift deed this to my wife?
How can I possibly save the house?
Please note that I have already mortgaged this house and currently paying Emis.
Thanks,
Chidu
Dear Sir,
It is time barred debt and bankers cannot claim the same. You are not liable to pay such dues to the Bankers. You must get stay order against the bank. They cannot do anything against you since as per new law son is not liable to pay the dues of his deceased father.
Helpful?
Adv. Kishan Dutt Kalaskar
Bangalore / Bengaluru | 1000+ Answers
Chat
Hello sir, First question is who is surity of other loan taken from your father? Because surity is also liable to pay the amount after the death of your father. If your father not pledged your property to a bank then you can sell it to anyone before the attachment. Otherwise bank also have right to attach your property. If you need more advice please contact me.
Helpful?
Adv. Savitha Savi
Mangalore | 200+ Answers
Chat
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Family lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
