Property Maintenance-not able to pay
1 year ago
My Mother has a Flat in Delhi in a Housing society. My Father has expired & my mother does not have any income source apart from the money given to her by her sons. She has 4 sons but 3 does not work. 2 sons have been unemployed for more than 20 yrs. 1 son works on & off
She lives in a custodian property. She is able to pay the maintenance charges of the Flat somehow however she is unable to pay the other charges which are totaling 170000. Can she declared herself as bankrupt & pay everything when she sells that flat?
A.Hello Sir,
She (the mother) can file for bankruptcy in this situation. However, a legal action by the money lender can be initiated.
She (the mother) can file for bankruptcy in this situation. However, a legal action by the money lender can be initiated.
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A.Dear Client
Individual bankruptcy is still not allowed as per Indian laws and what she can do is get in agreement with the Society that she shall ay all her dues after selling the flat.
Individual bankruptcy is still not allowed as per Indian laws and what she can do is get in agreement with the Society that she shall ay all her dues after selling the flat.
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