Legal Question in Real Estate Law in Florida

My husband is a partner in the ownership of an office building. I did not sign on the loan. What happens if something happens to one of the partners. Who is responsible for payment of the loan on the building. Would his estate be responsible.


Asked on 1/19/10, 8:30 pm

2 Answers from Attorneys

Leon Ferraez Ferraez, LLC

I'll try to answer as best as possible, but there is some missing information. First, how did you husband sign (i.e. individually, on behalf of partnership, as Gen. Partner?). Also, is it a true partnership (i.e. official vs. unofficial/implied)? These, and other questions would determine who is liable. Assuming he signed individually, then he (his estate) is responsible. However, if it's deemed he signed as the partnership, then the other partners may be liable. This is why it is important to set up businesses properly from the onset.

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Answered on 1/25/10, 7:52 am
Lesly Longa Longa Law P.A.

Probably not, but it depends. Did he personally guaranteed it as an individual? He should speak with an attorney and have them review the partnership and purchase agreements.

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Answered on 2/04/10, 12:10 pm


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