Legal Question in Real Estate Law in California

Re: realestate law

First of all you do not foreclose, the lender does. And, if the loan is a refinance or anything other than a purchase money loan for a residence you resided in, or if there was any fraud in the making of the loan, then the lender can look to you for any losses. With regard to your S-Corp ownership, usually this type of entity is created for a small business where the owner wishes to be taxed as an individual and it is highly unlikely that a lender who gets a judgment would be precluded from attacking your interest in this entity--they can execute on any assets you own including stock in a corporation if they get a judgment.

Re: realestate law

Hi Rich,

It would depend on issues surrounding ownership and payments for the stock in the S-Corp (e.g. commingling).

Feel free to contact my firm: www.seannovicklaw.com

Re: realestate law

It depends. Call me. A 3 minute conversation will do more than trying to answer this in this forum.