josephine johns
Junior Member
What is the name of your state (only U.S. law)? PA
My question involves business law in the state of: PA
i am not sure i am posting under the right forum, but if i did not, please let me know which one i should. this goes back to my husband messing everything up and i do not know where we stand or what we have to do.
his mother and father owned a small business. his father was incapacitated (could not talk, walk, write-was bed ridden to a stroke). his mother took his father's name off of the deed to the house and place my husbands name with hers. then one month later obtained a loan for the small business and placed the house as collateral. what is strange is the bank has it listed under his mother and fathers name. his father has/had nothing to do with the house...only his mother and him (my husband) own the house. i am not sure how the bank put the loan in his mother and father's names.
1. can his mother get a loan for the small business and place the house as collateral? what happens to my husband?
my husband took ownership of the small business 2 days before his father died and put the ownership of the business in MY name. so i am listed as the owner/president of the business.
1. now is the business responsible for this loan? what happens to the house that was used for collateral? his mother died so he got the house.
am I (as the owner of the business) responsible for any of this loan? did the bank do something wrong to allow this without his father's signature? we as a business are paying this loan and have been since 2006.
i do not want to get myself in trouble since i literaly did nothing wrong. i am afraid my husband screwed this whole thing up.
My question involves business law in the state of: PA
i am not sure i am posting under the right forum, but if i did not, please let me know which one i should. this goes back to my husband messing everything up and i do not know where we stand or what we have to do.
his mother and father owned a small business. his father was incapacitated (could not talk, walk, write-was bed ridden to a stroke). his mother took his father's name off of the deed to the house and place my husbands name with hers. then one month later obtained a loan for the small business and placed the house as collateral. what is strange is the bank has it listed under his mother and fathers name. his father has/had nothing to do with the house...only his mother and him (my husband) own the house. i am not sure how the bank put the loan in his mother and father's names.
1. can his mother get a loan for the small business and place the house as collateral? what happens to my husband?
my husband took ownership of the small business 2 days before his father died and put the ownership of the business in MY name. so i am listed as the owner/president of the business.
1. now is the business responsible for this loan? what happens to the house that was used for collateral? his mother died so he got the house.
am I (as the owner of the business) responsible for any of this loan? did the bank do something wrong to allow this without his father's signature? we as a business are paying this loan and have been since 2006.
i do not want to get myself in trouble since i literaly did nothing wrong. i am afraid my husband screwed this whole thing up.