1. You shall be liable to pay their individual debts to the extent you inherit their individual properties.
2. You can inherit the assets but shall be liable to pay their debts only after the lenders claim the same from you and obtain Court order to that affect.
3. The Banks are entitled to claim the outstanding amounts standing in the names of your parents from the amounts inherited by you and for this purpose they shall have to prefer a claim and also approach the Court for appropriate order.