Legal Question in Credit and Debt Law in New Hampshire

business debt carried over to the business owner

I own a chapter s corp. I personally guaranteed the debts which are in collection. the companies are threatening to sue me. I am married . the house I have a mortgage on is in my wifes name 100%. can they place a lien on it for the debt?


Asked on 12/05/07, 8:17 am

1 Answer from Attorneys

Re: business debt carried over to the business owner

With a marginally decent lawyer, YES. Unless your wife can show that no income earned by you was used to purchase or maintain the home and that the two of you have kept separate bank accounts throughout the marriage, then merely placing a house in someones name does not eliminate an equity share... the same share you could claim in a divorce.

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Answered on 12/05/07, 8:27 am


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