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Joint tenants own 100% of the total each. If one puts a lean on their part then its only on 50%. If that person dies the other owns the whole 100 % without question. You cannot desolve a joint tenacy unless you sell your half or joint tenent dies. If the leans of the other joint partner is against a joint property and he dies then his half automatically goes to his joint partner and the person putting debt on his 50% is redundant because it is someone else's 100% after death. This person might have to sue the other person for his lean on the joint ownership but he might not win.
What else can I help you with?
Which companies business credit no guarantee?
Most creditors will require a personal guarantee before extending business credit to reduce risk; however, there are ways to avoid having to provide a personal guarantee. Establishing a business credit history, having a long history of doing business, and demonstrating sufficient cash flow are all ways that can allow a business to avoid providing a personal guarantee.
Do business credit cards come without a personal guarantee?
Most business credit cards do come with a personal guarantee. There are, however, ways to get a business credit card that does not require a personal guarantee.
Can a commercial loan appear on personal credit report?
Depends - did you do a personal guarantee or did you do the loanthrough an EIN number for a corp, llc ?If you did it through a personal guarantee (YES)If you did it through an EIN (NO)So yes, and No;)Wayne
Can the bank tell your tenants your personal information about your loan?
No, your creditors, even your potential creditors are prevented by Consumer Trade laws from discussing your information with anyone not specifically authorized by you.
Can personal creditors go after an LLC?
In most cases, personal creditors cannot go after the assets of an LLC to satisfy personal debts. This is because an LLC is a separate legal entity from its owners, providing limited liability protection. However, there are exceptions, such as if the owner has personally guaranteed a loan or engaged in fraudulent activities.
Which companies business credit no guarantee?
Most creditors will require a personal guarantee before extending business credit to reduce risk; however, there are ways to avoid having to provide a personal guarantee. Establishing a business credit history, having a long history of doing business, and demonstrating sufficient cash flow are all ways that can allow a business to avoid providing a personal guarantee.
What if you file chapter 7 will you still owe creditors if you have a corporation?
To the extent of your personal guarantee for the corporate debt, or if both you and the corporation borrowed the money, you will not owe anything if the debts are discharged in your personal chapter 7. If the corporation has any assets, it will be subject to lawsuits and attachments by the creditors. You should discuss the situation with an experienced bankruptcy attorney, as it may be better to wind up the corporation before filing a personal bankruptcy.
What journal entry we make when proprietor paid to creditors from his personal account?
Sundry creditors a/c dr to proprietors personal a/c cr
Do business credit cards come without a personal guarantee?
Most business credit cards do come with a personal guarantee. There are, however, ways to get a business credit card that does not require a personal guarantee.
Can a director give a personal guarantee for a loan?
He can but should not. A personal guarantee defeats any corporate shield against seizure of personal assets.
Can a c corporation file for bankruptcy and the owners protect their personal assets even if they signed personal guarantees with some banks?
No, the owners assets WOULD still be subject to seizure from creditors for all debts that were PERSONALLY guaranteed. The only way to protect personal assets would be for the owners themselves to file personal BK.
Does a personal chapter 7 bankruptcy cover a corporation personal guarantee?
Yes, if you include the guarantee you made to the creditor in the bk.
What is the difference between economic investment and personal investment?
gay
Can you really establish a good business credit without personal guarantee?
Yes you can, but if your a new business, it's going to be very difficult without a personal guarantee. Most creditors are going to require that you personally guarantee a loan or credit line. After you've been in business for a while and have a good business credit history on file, then you will be able to obtain some credit financing without a personal guarantee. In general though even well established businesses, especially small businesses are always going to require that personal guarantee regardless of how good your business credit history may be.AnswerYes, and you should establish good business credit separate from personal credit to reduce personal risk. A D&B D-U-N-S® Number and an EIN (tax identification number), both issued for free, are two business identification numbers that can be used to establish good business credit separate from personal credit.
Is investment ac is nominal account?
Investment A/C is personal account
What type of account is the sundry creditors?
sundry creditors is a personal account. the rule applying would be debit the reciever, credit the giver
How to get Business credit card processing without personal guarantee?
First you need to find a processor that is willing to accept business financials in lieu of a personal guarantee:
