Legal Question in Credit and Debt Law in India

The Grand father who stood gurantee to a defunct company is not alive passed away around 1980.He has three sons and two married daughters .In between the bank who loaned has proceeded against the gurantor and a decree is passed.Then the DRT recovery officer asked all the sons and daughters to pay back the amount.The deceased Grandfather has one building and that is self acquired .the daughters somehow never got the notice or were not aware of this.They have filed a case of partition/right over the property of their father and have been able to get the patta of the house which shows the names of all brothers and sisters.The final order of the court about their share/partiion i s awaited.Now both the sisters are no more.The notice has now come to their children.These children of the sisters have not inheritated any property from the grand father.What are the liability of the Grand children?Are they personally also liable?Can their self acquired property be attached?Out of four children ( two of each sister) two are married daughters and two are married sons.Kindly advise what is the liability of grand children and what should they do.All of them are governed by Hindu Mitakshara law Regards.BM


Asked on 12/21/15, 5:30 am

2 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

21.12.2015

Repeat query. Already answered. Any further advice or guidance will be rendered only on prepayment.

Read more
Answered on 12/21/15, 5:51 am
Vivek Mapara Vivek N. Mapara

Since the actual liability was of Grandfather, neither the sons, daughters, or grand children are ever personally liable to satisfy any claim / liability / debts of the grandfather. All that these heirs are liability is only in respect of the estate inherited by them from grandfather. The personal property will not be liable at all.

Fee free to contact, should you have any questions.

Regards

Vivek N Mapara

vnmlaws.com

Read more
Answered on 12/22/15, 1:10 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in India