My uncle has expired in 2016 in an accident ,he has no asserts on his name and have two debts( cheques are there signed by uncle) according to lenders which my family never known or signed.without consulting us they sued us with in three months of death and the case is disposed to give the asserts value to lenders inherited by legal heirs from my uncle but he has no asserts to be inherited .recently they received third lnsurance ,they are trying to sue on third party insurance .can the lenders have a right on third party insurance ,how to proceed ,plz suggest .
1. Lenders CANNOT claim their debts from the insurance amounts received by the Legal Heir/s of deceased uncle.
2. Further the Legal Heirs of uncle become liable IF they receive any properties of Uncle as beneficiaries. Hence lenders money cannot be recovered from the legal heir of uncle.
Third party insurance granted by MACT court is compensation and not inheritance. No claim in it.
your liability is limited to extent of your inheritance
2) if you have not inherited any assets you are not liable to pay deceased uncle debts
3) in case of third party insurance on demise of uncle , the dependents of the deceased can claim compensation on the basis of the income lost.
As u quoted if any compensation is received by you lenders can claim for compensation .does this involve the third party claimed nei ance we received plz specify .
if you have received any money on demise of uncle as compensation then lenders can sue you to recover the money received by you
No.
If you have received any assets from him then only you are liable to pay the claim otherwise no need
1. No lender cannot recover the amount from Insurance claims.
2. The legal hiers are only liable upto the extent of property or assets inherited and not more than that.
The legal heirs are bound to settle the debts of the deceased borrower lent by the lender out of the money received in the name of the deceased if there are no assets available on the name of the deceased.
Any amount includes the third party insurance claim amount also.
The legal heirs of the deceased are not liable to pay the debts of the deceased. The legal heirs if inherit the properties or assets of the deceased then they would be liable to pay the debts to that extent of what they availed.
Lender can recover from legal heir if heirs received insurance money .