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Clarification on payment of father's loan by son after father's demise
23-May-2023 (In Recovery Law)
my father live in village and I (his child) live in town.My father took loan (approx 2 cr) from different people in village..and he dead after some years. Then people who give loan to my father came in my house and say to give that loan. my question is that legally should I pay that loan..
Under what circumstances you were living seperatly from your father? If you were living legally seperated from your father then you are not liable to pay otherwise you are completly liable to pay all the amount taken by your father.
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Adv. Gagan Jindal
Delhi | 25+ Answers
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As per the Hindu Succession Act, 2005 son is not liable to pay back his father's debt out of anything that he had made out of his own income or savings. He is only liable to pay out of what was his father's property and his inheritance in the same. For instance, the bank would auction his father's house to recover the dues, but, the law doesn't allow the banks to liquidate Son's house if he is not a co-borrower.
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Adv. Roshan Kumar Singh
Delhi | 100+ Answers
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Only if you have inherited any property from your father after his death, then only you are required to pay back that loan amount, if you have not inherited any property from your father after his death than there is no liability on your part to pay back that loan.
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Adv. Ankit Tuli
Delhi | 25+ Answers
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Please check whether there is any written document for the said loan lying in your home , else demand from person demanding loan repayment. if there is any legal document than being a Legal Heir all persons responsible for repayment of given debt. Definition of Legal Heir :--Heir means any person, male or female, who is entitled to succeed to the property of an intestate (person dying without declaring a will).
If there is no document in place for said debt than you simple file police complaint against such person , there might be persons taking advantage of the situation.
If there is no document in place for said debt than you simple file police complaint against such person , there might be persons taking advantage of the situation.
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Adv. Sanjeev Chopra
Delhi | 25+ Answers
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