Gauranter
3 years ago
Kisi aadmi ke loan gauranter ki death ho jane per gauranter ke warisan per kya effects honge
A.Hi,
In the unfortunate event that your guarantor dies before the end of the loan repayment period, the guarantor may be replaced by their spouse. Depending upon the loan contract and the requirements that the guarantor has agreed to, the lender could also be entitled to their estate and other assets to help make up the loan repayments.
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In the unfortunate event that your guarantor dies before the end of the loan repayment period, the guarantor may be replaced by their spouse. Depending upon the loan contract and the requirements that the guarantor has agreed to, the lender could also be entitled to their estate and other assets to help make up the loan repayments.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
If a guarantor died, his/her legal representative would continue to be under a liability for the duration of the three-months notice period, if such a notice had been given by the guarantor during his lifetime.
If you find this answer helpful, please rate us.
If a guarantor died, his/her legal representative would continue to be under a liability for the duration of the three-months notice period, if such a notice had been given by the guarantor during his lifetime.
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