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