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recovery of loan by bank after death
10-Apr-2023 (In Recovery Law)
My father passed away but he had taken a huge amount of personal loan from banks. Are we liable to pay that loan? can bank seize our property if the property is on his name? And what if property is not on his name? What actions can a bank take in case of non-payment of loan? i don't know what security was given by him as property papers are with us.
query persue and reach to the conclusion that Yes Bank can recover the money from you because there is a legal document maybe atom is mention after the death of the borrower highest will be liable to repay the loan mentioned then Bank can recover whatever he wants money
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Adv. Akhil Verma
Delhi | 400+ Answers
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Hi Ms. Deeksha,
The bank can only seize the assets inherited by you or anyone else from your father.
For that you have to state from day one the assets inherited by you and that you did not owe anything personally.
The bank shall send you a legal notice and initiate recovery proceedings in Debt recovery tribunals or file a recovery suit.
Feel free to contact,
Regards,
Madhav Nanda,
Advocate
The bank can only seize the assets inherited by you or anyone else from your father.
For that you have to state from day one the assets inherited by you and that you did not owe anything personally.
The bank shall send you a legal notice and initiate recovery proceedings in Debt recovery tribunals or file a recovery suit.
Feel free to contact,
Regards,
Madhav Nanda,
Advocate
Helpful?
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Adv. Madhav Nanda
Delhi | 100+ Answers
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Hello, this is Advocate Anupam Kumar Mishra.
I received an enquiry from you for your legal issue. Please let me know how can I help you. I handle all types of cases in all courts of Delhi. We provide most customised and reliable legal solutions as per your needs and requirements. Feel free to contact me for a free case evaluation and an appointment for a face to face discussion.
Thanks and regards,
Dr Anupam Kumar Mishra.
(Advocate).
I received an enquiry from you for your legal issue. Please let me know how can I help you. I handle all types of cases in all courts of Delhi. We provide most customised and reliable legal solutions as per your needs and requirements. Feel free to contact me for a free case evaluation and an appointment for a face to face discussion.
Thanks and regards,
Dr Anupam Kumar Mishra.
(Advocate).
Helpful?
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Adv. Anupam Kumar Mishra
Delhi | 200+ 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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