Legal Question in Banking Law in India

Re: Liability of hiers for a business loan

since you are the legal heirs you will inherit the properties of the deceased inclusive of the business and its share ... along with the loans.. so you will asked to repay the loan.

in case you do not inhereit any thing and the loan has been acquired in the name of the company or business enterprises etc... then that would be taken/ wound up and money would be realised and you will not be held responsible.

Re: Liability of hiers for a business loan

the liability of the hiers is according to the share they might have recieved from the properties of the principle borrower, after his death.

Re: Liability of hiers for a business loan

if you have inherited something then you have to pay upto the value of inherited property. certain things can be adviced in person only

For any further clarification and detailed advice you can contact me with documents. Consultation Charges will apply.

Re: Liability of hiers for a business loan

if the heir has inherited any property etc.of the deceased then his liability is resticted to the extend of the value of inherited property only.contact with details.

Re: Liability of hiers for a business loan

The lender can sue the legal heirs on the death of the borrower and he can have a decree against the assets, if any of the deceased, in their hands. If no assets are there, the heirs are not personally liable.