My father was a business man. he died last year leaving huge amount of debt somewhat around 10lakh. its a business loan and the parties are pressuring me to pay the debt asap. one party threatened me to pay the amount at a time or else he will take legal action. i am currently owner of the shop and running the shop and the shop is also on rent. my father does have only one flat in his name and nothing else. there is nothing in the name of my mother or me. we live in joint family and the house is still under my grandfathers name. 1. am i responsible to pay my fathers debt? 2. can he file a case against me? 3 if he files a case against me what will my stand in this regard?
1. You are responsible to pay the amount that you received from him being the legal heir. There is no pious obligation on you.
2. Yes he can
3. That depends on the ground taken by him. Usually it will be that you have received nothing from him after his deatha and hence you are not in a condition to give anything.
Regards
i want to point out one thing that i have been paying the debts in monthly instalment through cheque.
1. You are responsible to pay father's debt to the extent of inheritance you recieve from father.
2. Yes he can file case against legal heirs of father.
3. You have to contest case based on his acquastion further all the legal heirs will be responsible to amount of inheritance.
If you are paying debt keep record of same in case there is suit it will help you to quantify the amount.
If you are paying the same then there is no issue.
Even if he files a case then also you may say the same and the court will consider this fact and will not pass some harsh order.
Regards
Whether it is legally enforceable debt or not? A contract was signed or not? Please explain
1. You are responsible to pay your father's debt being his legal heir.
2. Yes.
3. If you had inherited anything from your father you would be liable to pay them only the amount of inheritance and not more than that.
If you are paying in installments on behalf of your father you should make sure that the entire amount is paid directly to the account of the lender via bank account and if any cash transaction is done, proper receipt should be taken for the same.
You are liable to pay yourfather debts only to extent of your inheritance
2) since you have inherited your father flat you are liable to pay his debts
3) if you failed to pay creditors can sue you to recover the money
Enter into one time settlement with his creditors
Sell the flat and pay father debts
Hi,
Being legal heir you may be responsible for repaying of Debt and the person may file case against you for recovering the debt. You may challenge the validity of documents and grounds of loan taken by your father.
1) Yes, you're liable to pay all your father's debts. However you can ask time frame from all of them.
2) Or if they want to take legal action against you let them take and let court take decision that how much amount you need to pay as installment.
It is a material without the shop is on rent or owned by your business as the business has perpetual entity you are responsible for the payment of business that's if you are running the business.
Yes you can file our money suit for recovery of estate from the business and you have to answer on the basis of your ownership to the business and you should have going legal find out and a way out to get out of this payments.
As you have started paying the debts it means you are in confirmation of the Jets and this liability lies on you
1. AS A LEGAL HEIR, IF you claim the properties of the deceased person, THEN legally you become liable for the debts /liabilities of the deceased person.
2. IF the amount is "officially reflecting in the Lenders Income Tax Returns", THEN the Lender can file a recovery suit in the Civil Court, against all the beneficiary Legal Heirs.
Keep Smiling .... Hemant Agarwal
You are only liable to pay for his debts to the amount you inherit from his personal property.
If you have inherited your father's assets or business, then you are liable to clear his debts to the extent of your acquisition.
He may file a money recovery suit against you but you can challenge the same claiming ignorance of your father's debts and disown the liabilities on the basis of the information you rely upon.
You can challenge the same on the basis of the allegations he has made in the suit, discuss with a local advocate before coming to any conclusion.
i want to point out one thing that i have been paying the debts in monthly instalment through cheque.
You can continue to pay that, if somebody is refusing to receive the same, you may ask him to proceed through court, where you can seek court permission to deposit the same in monthly installments and let him collect the same from court accordingly.
And, in some states, children can be held responsible for a deceased parent's unpaid medical debts. In virtually all other circumstances, creditors can come after your estate, but not the assets of your adult children. ... But you can rest easy that, with few exceptions, your children will not inherit your debt
The Indian law earlier validated that it was not just the moral duty of the son but also a legal obligation to repay his father's debts in case the latter has died. However, the Hindu Succession Act, 2005 changed this norm. ... He is only liable to pay out of what was his father's property and his inheritance in the same.
Liability of the son to pay father's debts is enshrined in the ancient Indian literatures. The ancient Hindu Law makes it son's pious obligation to discharge the debts of his father. ... Also the son was not liable to pay immoral or Avyavaharika debts incurred by his father or grandfather but only Vyavaharikadebts.
Dear Sir,
My answers are as follows:
1. am i responsible to pay my fathers debt?
Ans: No. The Indian law earlier validated that it was not just the moral duty of the son but also a legal obligation to repay his father's debts in case the latter has died. However, the Hindu Succession Act, 2005 changed this norm. ... He is only liable to pay out of what was his father's property and his inheritance in the same.
2. can he file a case against me?
He may file case against you but it will not stand.
3 if he files a case against me what will my stand in this regard?
You may take stand as the debt was not incurred for legal necessities.
i want to point out one thing that i have been paying the debts in monthly instalment through cheque.
In India there is something called the law of inheritance. To answer your question specifically, the law says that the son shall be liable to pay only such portion of the father's debts as is attributable to the assets inherited by him.
Suppose father owes 10 lakhs and son has inherited property worth Rs. 20 lakhs. In such case son needs to settle debts of Rs. 10 lakhs.
In case father owes 5 lakhs and son inherited property worth 2 lakhs. In such case son's liability is limited to Rs.2 lakhs.
Suppose father's debts amount to Rs. 5 lakhs and son did not inherit anything. Then he is not liable to pay off his father's debt.
i want point out one small question can he drag me to police station means can he arrest me by police? because he dragged one shop owner to police station.
No , they cannot drag you to the police station. In fact you can lodge a complaint in police station stating that they are threatening you.
The police cannot interfere in this because you have not borrowed the amount and you never heated him.
He can have only civil remedy i.e., to recover the amount by due process of laws through civil court.
No since it is civil suit for debts police cannot take action.
You have not taken any loan
2) you would not be arrested by police
3) at most civil suit can be filed against you
No. Police has no authority to do recovery of money and money can only be recovered by Court having jurisdiction.
no police cannot arrest you for fathers debt.
this is a civil issue so police will direct to complainent approach civil court for debt recovery.
No
Just a civil suit for recovery can be filed.
R