Legal Question in Business Law in Pennsylvania

Protection

In my S corporation, I signed personally as guarentee for a business loan. Are my home and joint assets protected? Spouse did not nor was required to sign for business loan. Spouse is listed on the home deed but not on the mortgage for the home.


Asked on 5/09/07, 3:45 pm

1 Answer from Attorneys
Matthew Nahrgang Nahrgang & Associates, P.C.

Re: Protection

PA has an exemption known as tenants by the entireties. It applies to all property owned jointly by husband and wife if bought during the marriage and always jointly owned. Such property is protected by the creditors of one spouse.

I trust this answers your questions but feel free to call or E-mail on a free initial basis.

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Answered on 5/09/07, 5:10 pm


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