How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask INFOLAWYER Your Own Question
INFOLAWYER
INFOLAWYER, Attorney
Category: Business Law
Satisfied Customers: 54289
Experience:  LICENSED BUSINESS LAWYER
11313492
Type Your Business Law Question Here...
INFOLAWYER is online now
A new question is answered every 9 seconds

My husbands corporation has a bank loan which is personally

Resolved Question:

My husband's corporation has a bank loan which is personally guaranteed. They are seeking to have the yearly renewal of the loan, however, I don't want to pledge my half of our personal assets. Can my husband pledge only his half of our personal assets? Thanks.
Submitted: 7 years ago.
Category: Business Law
Expert:  INFOLAWYER replied 7 years ago.
If you did not sign a personal guaranty, you do not need to pledge your assets at all.   He has signed a guarantee and he too need not pledge his assets. In other words, the guarantee speaks for itself.   
Customer: replied 7 years ago.
But if the loan were defaulted on, that means that the bank can come after my assets as well as my husband's assets?
Expert:  INFOLAWYER replied 7 years ago.
If he personally guaranteed the loan during the marriage your assets would be at risk.   If signed it before the marriage, they would not be.   
INFOLAWYER and other Business Law Specialists are ready to help you

Related Business Law Questions