Pennsylvania  |  Business Law

Legal Question

Asked on: 1/09/07, 11:08 am

LLC and personal assests

My fiancee is forming a LLC and starting a restaurant the bank would like us to use our house as collateral. However, we have just purchased the house and there really isn't any collateral. I am not a part of the corporation however, we both hold the mortgage to the house. If something were to go wrong with the corporation would I be personally finacially responsible?

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