Who is liable for the loan?

NOVASTAR

Any advice would be very much appreciated and thank you in advance.
In the event of a divorce, selling the house and splitting the joint assets, would a wife be liable for the husbands business loan (s) if it is his name only on the agreemnent?

Troubled_Joe

There's no definitive answer to this but on the whole my experience is that if the Husband is to retain the business itself then he will retain any liabilities attached to it.

CHR15

In my experience, if there is any money in it.... the wife gets it

If there is any debts..... the bloke gets it.

Some things in lfe are simple

tanith

The husband could of put the house up as surety for the loan ... My Xhusband did this when we were married , took out a business loan (in his and his partners names) with the house as surety I hadn't realised that was what I was signing being a silly woman... luckily we actually paid back the loan before we were divorced thank goodness... we would of lost a great chunk of the equity in the house....