Legal Question in Banking Law in India
My father-in-law had taken a loan in India over 30 years ago. He put down the family house as collateral. Since loan was not paid back, the bank seized the house. There is still an amount that has not been paid and is outstanding. My father-in-law died. We are wondering if the bank can come after my wife's (daughter) and my (son-in-law)'s property to recover the amount?
Asked on 6/18/14, 9:42 am
1 Answer from Attorneys
More information is required, weather the daughter has inherited the fathers property which was mortgaged or otherwise . If bank communicate any way ask the bank officer for set of documents of agreement signed between your father in law and bank.
Answered on 6/28/14, 7:04 pm
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