Am I respodible for my parents debt
I am 27years old working for a company and taking care of the family. My dad take care of us and all but he is really bad at financial planning. He spends lot of money when he have and once it's over he borrows from his friends. It was not a big of a deal as it was not that much amount and he used to take care of that by himself. Well recently my mother told me that my dad invested in some shares and lost a lot of money. I have been paying house loan where we all live from past two years. I think I paid around 10lakhs as my dad stop paying them. Only 2lakhs is left to clear the loan. After finding this I told my dad to change the house will to my mom name or my name so that he may never do the same mistakes again. After few days and when we were almost ready to close the loan we got a court order that my dad need to pay money to so and so person and he may put our house for money. So do you think I should still pay the money and close the loan. If I do that, can I change the name to mine. Will I be responsible to my parent debt as I am also living in the same home?