They can only recover the money from the guarantor.. If his wife mane is not there as guarantor the the bank cannot ask her to repay the loan
Recovery of loan
Dear Sir,my brother in law took a loan from DHFL which was insured by ICICI pru. he passed away on17/06/2013, till then all EMI was paid. we applied for toe emi waiver by aug 2013. DHFL got the insured money from ICICI pru in Nov 2013. They want to recover EMI from July to Nov 2013 from deceased wife. Are they fair in recovering.
Asked 8 years ago in Property Law
Religion: Hindu
5 Answers
What is amount sought to be recovered from your SIL ?
2) since ICICI pru has paid insured amount to DHFL EMI should not be recovered from your sister in law
1. They can recover it from her as she is legal heir.
2. The insurer can recover the money from the legal heirs of the insured if his legal heirs have inherited a property from him.
No they are not fair in recovering if they have got the money from ICICI pru, you please ask her to send these details to DHFL so that they may close the file and give a NOC to you against the said loan.
Regards
The insurance cover is for the death hence the recovery of EMI after the death of the borrower is not legally valid claim.
You can issue a legal notice to this effect stating that the delay in settlement of insurance amount is not your problem however they are not entitled to claim EMI repayments for the interim period.
You can challenge their claim in court.
