Legal Question in Business Law in Florida

Protection

If I own a business with three partners (each have an equal stake) but my home is going into foreclosure because I cannot pay, can the bank come after my business? Thank you.


Asked on 2/19/09, 12:17 pm

2 Answers from Attorneys
William Gwaltney William W. Gwaltney, Attorneys at Law

Re: Protection

Maybe. There are many factors which could impact the situation. You should consult an attorney directly for more information.

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Answered on 2/19/09, 10:32 pm
Brent Rose The Orsini & Rose Law Firm

Re: Protection

Probably. If the business is a partnership, the bank can directly go after the assets of the business. If the business is a corporation, the bank can levy on your shares of the corporation and get to business assets via your shares.

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Answered on 2/19/09, 1:37 pm


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