Legal Question in Credit and Debt Law in Louisiana

My wife took out a loan from a friend using our boat as collateral. The boat is titled in both of our names, and LA is community property state, but I never signed on the loan papers (which were never notarized). I didn't sign anything. I know in real estate you can't do that with out both spouses signing even if one is not on the loan. Is it the same in this scenario?


Asked on 6/28/10, 1:29 pm

1 Answer from Attorneys
Nick Pizzolatto, Jr. Pizzolatto Law Office

She can at the very least put up her half of the boat as collateral. Just a hunch, does your wife have a gambling problem? It does not matter, but it sounds very unusual. She can do it and she owes it unless she never borrowed the money. And your statement about real estate is wrong, in case you want to know that.

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Answered on 6/28/10, 4:46 pm


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