Loan insurance query

Question

what will happen in this case the loan holder male is no more all liabilities on family now no one is earning anything
no paying member present in family the bank has taken the home as loan security at time of giving loan and the insurance has been done of house owner now owner has been passed away by the company docs referred above now company is saying that
the loan amount they will cover is lum sum 4.5 lakh will be waived via insurance amount but rest 6 lakh you have to pay for retst emis

refer above docs and please suggest how the relief can be granted

Answer ( 1 )

    0
    2025-06-08T15:54:59+05:30

    You are liable only to the extent of the inherited property. If the house is the only asset and its value is less than the loan, the bank may sell the house but cannot force you to pay personally beyond what you inherited. Seek legal aid and try for settlement or delay via DRT or High Court relief if immediate auction is threatened.

Leave an answer

Sorry, you do not have permission to answer to this question .