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Co-borrower in father's business loan now he is not paying back loan
25-Nov-2023 (In Property Law)
My father taken a loan , I am co- borrower in fathers business loan and mordgaged my property. Now my father have differences with me and selling his property and refudsed to pay loan ammount . Can i stop him from selling his property till he settle the loan amount by providing his property detail to bank.Or can i put his property as mordgage instead of mine . Please tell me exact solution .
Dear client,
As you mentioned you are correct borrower and father is selling property then all the liability will come to you and you will be in big legal trouble. You need to act upon against your father immediately to stop doing so. For your further query you can contact me.
As you mentioned you are correct borrower and father is selling property then all the liability will come to you and you will be in big legal trouble. You need to act upon against your father immediately to stop doing so. For your further query you can contact me.
Helpful?
11+
11+
You can file an injunction suit in case court of your area for restraining your father from disposing of his property by elaborating the details as you given here. You should also inform the bank about the intentions of your father.
Helpful?
20+
20+
Adv. Vijyant Nigam
Lucknow | 100+ Answers
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1.firstly please tell , in which district your property is situated
2.your case is typical because in the case of loan , only the property is liable primafaciie
3.here only your property mortgaged not your father's property
But if you provide full details of your case and held a conversation session with me then it is possible that I can help you in your case
2.your case is typical because in the case of loan , only the property is liable primafaciie
3.here only your property mortgaged not your father's property
But if you provide full details of your case and held a conversation session with me then it is possible that I can help you in your case
Helpful?
12+
12+
Adv. Lalit Mohini Swaroop Sharma
Mathura | 25+ Answers
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