Posted on: 21st Jan, 2011 03:37 pm
What can I do if they default on the loan. They both signed a personal guarantee and both have real estate and money i dont know if the property is paid for or not Also, I put a lien on the company and assets but they became incorporated and changed the name. Can they sell off assets if there was a lien put on everything by me just because they are now incorporated and changed the name?
Hi gregrutlidge,
If you have given them a loan, then they will not be able to sell off the property without your permission. You can take legal help in this regard and your attorney will guide you in a better manner.
Thanks
If you have given them a loan, then they will not be able to sell off the property without your permission. You can take legal help in this regard and your attorney will guide you in a better manner.
Thanks