Legal Question in Banking Law in

if i give guaratee for a home loan from G.I.C to other person who is paying upfront 35%of home value upfront ,what is my liability in case when he defaults?


Asked on 8/29/10, 1:50 am

3 Answers from Attorneys
Vishwa Arya Arya & Co.

liability of the guarantor is coextensive with the borrower. the GIC may attach your property if the borrower commits default

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Answered on 8/29/10, 2:02 am
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

equal to the liability of the person paying upfront.

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Answered on 8/29/10, 10:35 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

After the loan is recalled, the lender may institute recovery proceedings against you alongwith the borrower.

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Answered on 9/04/10, 7:26 am


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