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What to do if my father and brother are paying the installments
21-Jul-2023 (In Family Law)
Hi, Please help me out as I am stuck here. Me, my elder brother and My Dad together took a mortgage loan against property for the marriage of our sister. As my documents were strong I became the first applicant and Mom-Dad are the second applicant in the Loan. At the time of application they convinced me saying they will pay off the Loan immediately after the marriage by selling the property. Now, due to some family dispute, Dad have removed from house with my pregnant wife and we are now living separate. They are also now denying to pay the Loan also. I am really stressed out of this situation. Please help!!!
You have not mentioned the property details.. beside that if property which has been mortgaged might become NPA. Since you have become seperate what will affect you.. let that property be auctioned or whatever..
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Adv. Ashley David Cusher
Palghar | 5+ Answers
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Sir
Your query is not clear you have written in the beginning that the loan jointly taken by you,elder brother and father ,later you mention applicants are you, mom & dad. Advisable you visit with all loan papers. If the loan is against property and you default finally the bank will send notices and finally auction the property in which case your parents will to save the property since I assume its in their name will pay/or do something.
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Adv. Shalini Devi
Mumbai | 400+ Answers
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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.
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