both of them are liable for the same but if you file a case it remains a sole discretion of judge, moreso if they sell off the portion of their business to the other other partner, the other can take a part of the money and pay the rest to the old lady and her daughter.

The bank have the property in hypothecation and have first charge on that.

Any stranger to the transection can not be made party for the recovery of the loan.

no . daughter is not liable for repayment of loan out of her own earnings after demise of her mother

2) spouse is not liable for her husband loans . she is liable only to extent of her inheritance

Dear Client,

Even in partnership, there`s limited liability up to extent of profit sharing/income invested in the firm. Next partner i.e his wife, bank can claim up to % of holding of his in partnership and not against from wife in the capacity of 2nd partner.

1. Is the married daughter who lives aboard liable for the repayment of the loan after the demise of her mother our of her own ( Daughter ) earnings -- Children has no liability to repay father`s debt. Such liability occurs only in inherited property, from which bank can seek recovery and not from self acquired of child/spouse.

2. What will be the liability of the spouse who is a house wife and has no means of any earning. - Same rule will apply as follow in child.

1. The married daughter who lives aboard is the legal heir and if the bank ask her to repay the loan, then she will be liable for the repayment of the loan after the demise of her mother out of her own ( Daughter ) earnings.

2. In the starting you said the other spouse is the other partner therefore the liability will be as per the partnership deed/agreement. Besides, if there is any grantors for the principal borrower, then that person is liable to repay.

If repayment is not done then the bank can recover the loan as per the rules of the Bank.

1. No, she is not liable to repay the loan as bank has already done hypothecated the property in lieu of the loan so bank shall recover it from them. Also it was loan of partnership firm which is dissolved. Further she can be made liable to the property she has inherited so inheritance no liability.

2. Since Spouse is partner in the firm she shall have liability in accordance to the partnership deed. Also for the share of husband in loan the same rule of inheritance shall apply.

She is liable to 50% of borrowed sum if loan was taken in the name of partnership.

Her age do not exempt her from loan liability up to 50%. And is she have any property in her name in which she is living than that property is secure under Indian Legal System.

No she is not if she is not getting any share from him. Banks can recover loan only if spouse is liable to pay the loan and if the spouse is getting a share from him.

I presume spouse has not given any personal guarantee

2) if spouse is partner of firm Bank will sue the spouse to recover the dues

3) if spouse has no assets bank would not be able to recover its dues

The bank can ask for repayment of loan.

If the repayment is incomplete then the bank can take legal steps.

They can send legal notice. If still repayment is incomplete then the bank can go to the Debt Recovery Tribunal for recovery of the debts.

1. Recovery can only be made from tbe spouse or daughter if they are inheriting something from the property of the father, if they are not inheriting anything then they will not have any liability towards the said loan

If the loan is taken on name of partnership firm than she is liable for her liability decided under partnership deed or if she is 50% partner than she is liable for 50% amount of loan, bank can recover that from her personal property.

In case of husbands part if she has not inherited anything she wont be liable.

My question is

1. Is the married daughter who lives aboard liable for the repayment of the loan after the demise of her mother our of her own ( Daughter ) earnings

If she is availing the benefits of her assets, then she is liable to pay her debts to the extent of the benefits received.

2. What will be the liability of the spouse who is a house wife and has no means of any earning.

The liabilities will restrict to the benefits availed by the surviving member out of the deceased's estates.

What action can the banks take against the spouse and its consequences on the spouse.

Will appreciate your early response

Since the spouse is another partner, she will be liable for the debts of the company as a partner.

The debts will be recovered from her own assets if she has any.

1. The daughter or son, whether married or unmarried, will have no liability on her/his parents debts unless she/he has inherited properties from the said loanee decesaed parents. In case of inheritance, the liability will be restricted to the inherited amount only and not more that that.

2. The spouse in the instant case will be liable for repayment of the loan being the partner of the loanee firm.

1. The Bank will take SARFAESI Action against the defaulting firm and attempt to take possession of the mortgaged property, if any.

2. If it is a CGTMSE loan without mortgaging any property, the Bank will file a Original Application before the DRT and make the insurance claim. The Bank will attempt to attach the personal property lying in the name of the living partner, is any for recovery of the dues.