Father's personal loan payment after his death
1 year ago
My father has 7 Lakh outstanding for his personal loan .
He expired on 13 th December .
Bank is telling he has done insurance against the loan.
Do I have to pay the money as his legal heir ?
A.Hello Client,
According to the Hindu Succession Act, you do not have to pay off your father's loans.
According to the Hindu Succession Act, you do not have to pay off your father's loans.
Helpful
Helpful
Share
A.Dear Sir,
U need not pay anything based upon the following forumula
-----------------
'Pious obligation' means the moral liability of sons to pay off or discharge their father's non-avyavaharik debts. ... The ancient doctrine of pious obligation was governed by Smriti law. There is a pious obligation on the sons and grandsons to pay the debts contracted by the father and grandfather.
Hindu Succession (Amendment) Act, 2005- Rights & Liabilities of a daughter member
Section 6(4) provides that no court shall recognize any right to proceed against a son, grandson, or great grandson for the recovery of any debt due from his father, grand father or great grand father.
Pious Obligation gone
U need not pay anything based upon the following forumula
-----------------
'Pious obligation' means the moral liability of sons to pay off or discharge their father's non-avyavaharik debts. ... The ancient doctrine of pious obligation was governed by Smriti law. There is a pious obligation on the sons and grandsons to pay the debts contracted by the father and grandfather.
Hindu Succession (Amendment) Act, 2005- Rights & Liabilities of a daughter member
Section 6(4) provides that no court shall recognize any right to proceed against a son, grandson, or great grandson for the recovery of any debt due from his father, grand father or great grand father.
Pious Obligation gone
Helpful
Helpful
Share
Read Related Answers
Recovering Loan given to a Friend
Dear sir
As cheques are undated you can file cheque bounce case which is financially feasibly and you need not pay any court fees.
Credit card payment
Dear Client,
You can try to negotiate a debt settlement with the Bank on your own if your pocket permits to repay the entire outstanding of your credit cards at a time for a one-time settlement of du...
Joint account Chaque with minor signature only
Dear Sir,
Please check whether cheque is acceptable with the signature of minor normally it is not acceptable. Please get an endorsement from the Bank and then get issue a legal notice as provided und...
Cheque and pronote
Dear Sir,
You have done a blunder mistake. However, you may approach the Police and lodge a complaint of cheating for not returning your cheque leafs and pronotes. Even if no action is taken by the Po...
Cheque and pronote
Dear Client,
In the given scenario, lodge a missing complaint of cheque leaves and pro-notes at the Police Station and also lodge an FIR against the person for cheating under Sec.415 of IPC. which may...
Read Blogs on Debt and Lending Agreement
Debt and Lending Agreement Lawyers
Find Lawyers by Location
