HOW TO SAFEGUARD HUF PROPERTY FROM ATTACHMENT?
Sir, I am a guarantor for my friend in an individual capacity who is the principal borrower in a cooperative bank. No collateral security has been given from my end. The principal borrower is a defaulter and doesn’t have assets to repay the loan. I have formed HUF for which I am Karta. To recover the loan of the principal borrower could the bank attach My HUF Bank account and HUF property which was gifted by my brother to My HUF ?
Hello sir,
If there is no any assest or any other property that is mortgaged and the person defaults the payment then the gurantor is liable to pay the dues, to know more in details please call on our helpline number
thank you
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