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Real estate lawyers...someone has a comercial lease agreement and he is named as...
Posted on 8/1/18 at 7:45 am
Posted on 8/1/18 at 7:45 am
Guarantor of the lease payments. If he marries and then passes away is his new wife the guarantor? Or since the contract was made before their wedding the lease would become void at his death. TIA
Posted on 8/1/18 at 7:47 am to Dry Prong Wildcat
Why would she be the guarantor? Did she sign the agreement as well?
Posted on 8/1/18 at 7:54 am to Dry Prong Wildcat
I would think the guarantee was not community property if it was a simple one.
Some specifically encompass all heirs of the guarantor in case of his death to follow the assets.
A real estate attorney will be required along with copies of the lease and guarantee addendum if it is not in the body of the lease.
Some specifically encompass all heirs of the guarantor in case of his death to follow the assets.
A real estate attorney will be required along with copies of the lease and guarantee addendum if it is not in the body of the lease.
Posted on 8/1/18 at 8:01 am to Dry Prong Wildcat
Anybody else want any free legal advice today on the OT?
Posted on 8/1/18 at 8:44 am to LSUbase13
quote:
Why would she be the guarantor? Did she sign the agreement as well?
well when she married him she did and is responsible for his debts as well.
now the tricky part is since this was a "pre-marriage" contract,, not sure if she would be responsible for anything before the marriage
Posted on 8/1/18 at 9:00 am to Dry Prong Wildcat
This is actually a securities lawyer question.
No, the wife doesn’t have to pay on the guarantee. The guarantee terminated when the dude died.
No, the wife doesn’t have to pay on the guarantee. The guarantee terminated when the dude died.
Posted on 8/1/18 at 9:17 am to Dry Prong Wildcat
Caveat: I don't do this type of law, but know enough to be dangerous. Also, there isn't enough info here for anyone to give you a perfect answer, so consult an attorney in the appropriate jurisdiction.
First thing - if it's Louisiana, the pre-marriage personal guarantee of the husband is presumed to be a separate (not community) debt.
But you have to look at the lease to see what it provides for. It's possible that the guarantee may be revoked upon the death of the husband. It's also possible that the lease specifically addresses that the lease is continuing, not revoked by death, and/or that the guarantee extends to the executors, etc. of the husband, i.e., a claim can be made on his estate.
First thing - if it's Louisiana, the pre-marriage personal guarantee of the husband is presumed to be a separate (not community) debt.
But you have to look at the lease to see what it provides for. It's possible that the guarantee may be revoked upon the death of the husband. It's also possible that the lease specifically addresses that the lease is continuing, not revoked by death, and/or that the guarantee extends to the executors, etc. of the husband, i.e., a claim can be made on his estate.
Posted on 8/1/18 at 9:21 am to Dry Prong Wildcat
quote:
Dry Prong Wildcat
This is worth you paying an attorney a couple of hours worth of fees to look at and give you advice. I do this all the time in my practice.
Posted on 8/1/18 at 9:24 am to Dixie Normus
quote:
This is actually a securities lawyer question.
wtf
Posted on 8/1/18 at 10:21 am to Dry Prong Wildcat
Read the guarantee. Thats why you get both husband and wife to sign guarantees.
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