Legal Question in Banking Law in India
My father took a home loan from citibank (India) but he passed away 3 months after that loan was sanctioned. In this case does the family members need to pay the loan ??? there's no earning member in the family. Please guide.
Asked on 2/08/10, 9:51 am
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
A home loan is secured by mortgage of the property. If you do not pay the loan, the bank may take the property to recover its dues.
Answered on 2/08/10, 10:06 pm
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