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Joint business mortgage & separation/divorce

My partner (to be ) currently has a business with a business mortgage in joint names ( it is a small hotel and is a partnership not ltd company) He runs this and works with his wife currently .
The business account pays the mortgage and not personal monies.
He is walking out of the marriage and business in 2 months time .
He is obviously named on the mortgage and therefore liable for it.
Hopefully the hotel can still pay this in full but if it were to be a shortfall he will not have any means of paying his share as will not have a job when he first comes to live with me .
What will happen in this situation ?
She wants to keep the business going until it is sold and it is not in their interests to let it default.
Any advice please .

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Only time will tell how this situation will unfold. As the other financial aspects of the marriage will need to be dissolved as well.
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