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Caclubuser (Accountant)     12 June 2021

What happens to business loan when a borrower dies?

Dear Experts,

What is the right of the lender of secured business loan if the borrower dies before repayment of such loan? Is there any relief available for the spouse or family of the deceased borrower?

 2 Replies

yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     13 June 2021

Collateral and properties on the deceased persons name will be ceased

1 Like
Prachi Bansal

Prachi Bansal   15 June 2021

I don't think any relief is provided in the re-payment of loans. The amount needs to be paid or else the collateral would be ceased by bank

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