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Daniel Kokhba
Daniel Kokhba,
Category: Business Law
Satisfied Customers: 56899
Experience:  Partner at Kantor Davidoff
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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:  Daniel Kokhba 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:  Daniel Kokhba 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.   
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