liabilities of parents
This query is : Resolved
23 April 2008
whether the liabilities arisen on account of loans or borrowings or advance in any form received by the parents without the knowledge of their sons/daughters will bind on the sons/daughtes? if so what are the legal remedies available to the innocent legal heirs?
S.Srinivasaraghavan
(Expert)
02 October 2008
Personal loans of parents not guaranteed by the children will not bind the children. But if they receive the property of the parents, to the extent of their property received after the life time of parents, the recipent has to be liable.
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