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I have a LLC company. I am married but my spouse is not a…

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I have a LLC company...
I have a LLC company. I am married but my spouse is not a part of the company. Nor is he on any documents for this company. My landlord wants my spouse to sign Fully executed Personal Guaranty from him.
1. Why would he need to do this?
2. Legally would he need to?
Thank you,
Misty ****
Morgan Rae's
Submitted: 2 years ago.Category: Legal
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Answered in 3 minutes by:
2/4/2016
Lawyer: Lucy, Esq., Attorney replied 2 years ago
Lucy, Esq.
Lucy, Esq., Attorney
Category: Legal
Satisfied Customers: 32,249
Experience: Lawyer
Verified

Hi Misty,

I'm Lucy, and I'd be happy to answer your questions today.

1. In many states, a creditor can only attach your house if they get a judgment against BOTH spouses. So one option is that the landlord wants to be able to take your home to pay the rent if you don't pay. (if you're in one of those states) Or he may want to avoid a situation where you can put all assets into your husband's name to avoid paying your a judgment.

2. Legally, the landlord can refuse to rent to you if he's concerned about your ability to pay the rent. So, while your husband doesn't have to sign, the landlord doesn't have to rent to you if he doesn't. You are, however, free to search for another property to rent with a landlord who will accept your own personal guarantee without involving your husband.

If you have any questions or concerns about my response, please reply WITHOUT RATING. It's important that you are 100% satisfied with my courtesy and professionalism. Otherwise, please rate my service positively so I am paid for the time I spend answering questions. If you are on a mobile device, you may need to scroll to the right. There is no charge for follow-up questions. Thank you.

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