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Barrister
Barrister, Attorney
Category: Business Law
Satisfied Customers: 33803
Experience:  15 years practicing attorney, JD, BA, MBA
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I signed a personal guarantee business. I live in California

Customer Question

Hi, I signed a personal guarantee for my business. I live in California and am married. Can the landlord come after my community property assets?
JA: The Lawyer will need to help you with this. Have you consulted a lawyer yet?
Customer: no
JA: Please give me a bit more information, so we can help you best.
Customer: the personal guarantee was for a lease
JA: Is there anything else the Lawyer should be aware of?
Customer: In the guarantee, it states "If a Guarantor is married, such Guarantor expressly agrees that recourse may be had against his or her separate property for all the obligations hereunder"
JA: Our top Lawyer is ready to take your case. Just pay the $5 fully refundable deposit and I'll fill the Lawyer in on everything we've discussed. You can go back and forth with the Lawyer until you're 100% satisfied. We guarantee it.
Submitted: 9 months ago.
Category: Business Law
Customer: replied 9 months ago.
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Expert:  Barrister replied 9 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question...

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Can the landlord come after my community property assets?

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No, because you can't legally pledge community property assets without the consent of your spouse. Each of you owns an undivided one half interest so both of you would have to agree to pledge them as collateral for any debt.

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thanks

Barrister

Customer: replied 9 months ago.
Can they come after potential future separate assets?
Expert:  Barrister replied 9 months ago.

I am not sure what "potential future separate assets" would be.. Assets are either separate or community property...

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So if you are talking about community property currently but you get divorced and then it is your separate property, then yes, it would then be separate property and open to the landlord pursuing it..

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thanks

Barrister

Customer: replied 9 months ago.
if I might inherit property in the future, can they go after that? How long can the landlord go after me?
Expert:  Barrister replied 8 months ago.

So if I might inherit property in the future, can they go after that? How long can the landlord go after me?

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Yes, inherited property is your separate property. How long depends on when you breach the contract. They have 4 years from the date of the breach to sue you for it.

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thanks

Barrister

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