HOW TO SAFEGUARD HUF PROPERTY FROM ATTACHMENT? | Vkeel - Free Legal Advice

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Shimla

Sir, I am a guarantor for my friend who is the principal borrower in a cooperative bank. 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?

Expert's Answers(1)

Advocate Yogesh Navmahalkar
Jalna, Maharashtra

19 Client Ratings

1. Yes, If Bank have any knowledge about your property then they attached your property otherwise not. So if any notice from court is issued on your address then you can manage that court person financially and tell him to give report that the surety is not residing in given address so the matter will be adjourned.

March 22, 2023