Legal Question in Banking Law in India
my father died 2 years ago and he had a loan in SBI bank. upto the time they dont sent any notice or anything. last day they called me and told i have to closs the loan immiditly or they will take legal action. is it possible? and one more thing i changed the land documents to my name including the loaned property
Asked on 6/29/13, 2:42 am
2 Answers from Attorneys
Fca Prashant Chavan
Expert Edge LLP
29.06.2013
Dear Sir / Madam,
Since the loaned property have been transferred to your name, you are liable to settle the remaining outstanding SBI bank loan.
Regards,
Answered on 6/29/13, 3:21 am
J. Radhakrishnan
independent Practice
It is obvious that your father mortgaged his property for the loan. In that case the bank can proceed against the property in your hands and it does not matter whether or not you got the record of rights in respect of the property in your name.
Answered on 6/29/13, 11:12 am
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