Legal Question in Banking Law in India
Dear Sir
I have taken a used car loan from HDFC for my brother in law who is the end user. Now the emi is not been paid by him and bank has put the cheque in bank which is dishonoured due to less funds. I have surrendered the vehicle. I want to know is it possible to trasnfer this loan amount to my brother in law in banks eye so that i will not have any legal problem.
Pls guide.
Regards
Suresh
Asked on 10/16/10, 9:00 am
2 Answers from Attorneys
For transfer of loan, ur brother in law is to apply for loan and then ur loan will be retake by the bank in the name of your brother in law.
Regards
Answered on 10/16/10, 7:57 pm
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