Nominee should pay loan of 3lacs to 12lacs

5 years ago

My uncle took loan from card bank jharsuguda in 2006 ,3lacs and my father was nominee by mortgaged of land .my unlce when alive bank didn’t give any notice for loan but after when death after 7year bank give notice to my father as nominees should we pay 3lacs of 12lacs loan please give me any suggestions for clear my laon

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Prabhakara S K Shetty

Responded 5 years ago

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A.If your father has got transferred the property to his name , then he takes with him the liabilities of the properties also. And did your father ask for the original papers of the property from the Bank ? More advice can be given if you ask for a consultation.

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Ambrose Leo

Responded 5 years ago

A.You can contest the loan recovery from the bank as per the documents available with you and reply to the notice.better to consult a professional lawyer from the panel of Vidhikarya to protect your interest quickly.

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ROBERT D ROZARIO

Responded 5 years ago

A.Generally in money suit (recovery of money) limitation period is 3 years but it can be enlarged by the court under section 5 of limitation act. after lapse of limitation period bank cannot recover its due. Its right has ceased to exist. Contact a local lawyer from Vidhikarya to review the documents and notice of the bank.

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Anonymous

Replied 5 years ago

sir we pay also 5.5lacs then also they call every time and distrub what can i do please suggest me any rule for nominee should pay all the or not .? Ligalhear my aunty apply and got but my father only nominee )

Rajeev RJ

Responded 5 years ago

A.If your father got any property/money from your uncle then certainly your father is responsible for the repayment of loan to the value of the asset he got from uncle..

Regards

Rajeev
RJ Associates
Trivandrum

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Deepak Yashwantrao Bade

Responded 5 years ago

A.Hallo sir, firtsly we want to check all mortgage deeds and documents. Kindly contact or visit to vidhikarya lawyer office for proper legal advise and procedure.

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