1. My dad has expired last year and one of his colleague claims that he had given 5 lakhs and he has a promissory note which is signed by my dad. But there is no witness signature on it. Recently the assets were transferred to my mother with all legal formalities. The lender has sent a lawyer notice to me, mother and my sister. When I searched in google it is mentioned that “ Since there is no collateral for an unsecured loan, property seizure for loan recovery is ruled out. If a person passes away before repaying an unsecured loan, the lender cannot claim unpaid dues from the surviving partner or legal heirs of the deceased.” At the same time they have mentioned as The legal heirs are liable to the lender only to the extent of value/assets, if inherited, from the deceased. If no assets are inherited, the surviving spouse or children have no liability towards the lender. For instance, if the husband leaves behind movable or immovable assets which are inherited by the wife, the creditors can claim all such assets from the surviving spouse in accordance with the law. The court, in such an event, can attach all such assets and the creditors can recover the outstanding amount by selling these after initiating appropriate legal If the surviving spouse has given a personal guarantee to the creditor for fulfilling the obligations undertaken by the deceased spouse, the process of attaching, applying or selling assets of the surviving spouse to recover the outstanding amount can be undertaken by the lender.So please clear my doubt whether lender can claim the money on the property which we have , will it affect us? What should we reply to layer notice?

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