for his business? Please try to understand matter..my uncle in law was suffering from blood cancer from last 8 months and died beofore 2 monts. He was only a responsible person in family, now no one is responsible person in family who earn for family.He has 3 children aged 11, 7 & 4 years old only. His wife is housewoman and they have no any legal property registered to him. Uncle''s father has house & farm but still this property not given to Uncle.
My uncle in law got Rs.400000/- CC from bank for business and he was paying regualr installment of iinterest against this CC but now after he is no more the amount of Rs.450000/- including interest is payable to bank and his family recieved notice from bank to pay this amount as soon as possible.
Now come to the main point..my uncle's father was guaranter at the time of CC taken by uncle and bank got gaurantee from father on stamp paper. In stamp paper, as per said by uncles father, father wrote he (uncle) is only the son who is my kin of next and all this propert like house and land are his only in future. if he can not able to pay CC i will take guarantee and mortgage my house in bank as guarantee.House paper is submitted by him in bank as guarantee.
Now i want to know that in case of dead of person who take CC, is family responsible for pay this CC. In my openion If person were alive and not pay CC to bank, then only guarnter is responsible for CC. But if person dead by accidently then why guaranter suffer to pay this CC. As on now his family has only this property to live their life with 6 member.
We visited bank manager but he refuse to b helpful in this matter and ordered to make payment as soon as possible.ohterwise bank will seal the house. He is evern refuse to let go interest.
Please My Vijay (lawyer) i want to help in this matter to help my inlaws.
Thanks
My uncle in law got Rs.400000/- CC from bank for business and he was paying regualr installment of iinterest against this CC but now after he is no more the amount of Rs.450000/- including interest is payable to bank and his family recieved notice from bank to pay this amount as soon as possible.
Now come to the main point..my uncle's father was guaranter at the time of CC taken by uncle and bank got gaurantee from father on stamp paper. In stamp paper, as per said by uncles father, father wrote he (uncle) is only the son who is my kin of next and all this propert like house and land are his only in future. if he can not able to pay CC i will take guarantee and mortgage my house in bank as guarantee.House paper is submitted by him in bank as guarantee.
Now i want to know that in case of dead of person who take CC, is family responsible for pay this CC. In my openion If person were alive and not pay CC to bank, then only guarnter is responsible for CC. But if person dead by accidently then why guaranter suffer to pay this CC. As on now his family has only this property to live their life with 6 member.
We visited bank manager but he refuse to b helpful in this matter and ordered to make payment as soon as possible.ohterwise bank will seal the house. He is evern refuse to let go interest.
Please My Vijay (lawyer) i want to help in this matter to help my inlaws.
Thanks