Legal Question in Credit and Debt Law in India

A person /borrower availed loan from private finance. During repayment period the borrower expired.. Whether the wife of brrower liable for repayment of loan or not ?


Asked on 1/12/16, 9:29 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

13.01.2016

Dear Sir / Madam,

Yes, if explicitly agreed with the deceased borrower, his spouse and legal heirs remain liable for repayment of the loan.

Regards,

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Answered on 1/12/16, 9:33 pm


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