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11/09/09, 1:05 pm

Legal Question

I started LLC with my family to build retail strip center. I am now selling my interest. Will I still be held liable for personal guaranty of loan if I sell 100% of my holdings? I live in TN (37934) property is in FL (32750).

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If you signed a personal guaranty, then you will still be responsible for the loan. You could ask the lender to release...

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Answered By:

Steven Meyer

Yes, your personal guarantee will survive the sale of your interest in the LLC....

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Answered By:

Alan Wagner

If you signed a personal guarantee, you are personally liable. ...

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Answered By:

Sarah Grosse

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