Posted on: 20th Mar, 2012 09:21 am
My husband has a business and has signed loans for his business giving personal guarantees. I do not have any ownership in business but we have a house and land together. My questions is if he quick claims the house over now to me and a year goes by will the asset of the house and land be protected from his personal guarantee, if his business fails?
Hi Guest,
If he transfers the property to you and if he has no claims over the property and the land, then though his business fails, his creditors won't be able to come after your property and land.
Thanks
If he transfers the property to you and if he has no claims over the property and the land, then though his business fails, his creditors won't be able to come after your property and land.
Thanks
thank you jameshogg
You're welcome!! :) It's great to know that the opinion of a forum member was of great help to you!!