Legal Question in Business Law in Indiana
business foreclosure
If a person's business is foreclosed do they also take their home and personal property, or just the business assets?
Asked on 12/20/07, 3:14 pm
2 Answers from Attorneys
Samuel Hasler
Samuel Hasler
Re: business foreclosure
If the mortgage includes personal assets, then those personal assets are included in the foreclosure.
Answered on 12/21/07, 8:57 am
Burton Padove
Indiana and Illinois Lawyer, Burton A. Padove
Re: business foreclosure
That would depend on how the business was organized and/or whether there were personal guarantees.
Answered on 12/20/07, 4:15 pm
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