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Robert.40
Starting Member
2 Posts |
 Posted - 16 January 2011 : 07:28:08
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Hi,
I bought a house before I got married, all bills are still paid by me, my wife is opening a new pub, 50/50 partnership, limited company, the tenancy pub is in her name, the business account his in joint names, my question, if this pub fails, and my wife ends up bankrupt, can the creditors come after my house, I did a will before I got married on the house, protecting my children from a previous marriage, as I am now married to a new women
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 16 January 2011 : 09:50:52
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Hi Robert.40
If the house is in your name solely and has not been been used as security for any joint ventures, then it is safe should your wife become bankrupt.
John Blackadder |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 16 January 2011 : 12:02:14
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Hi Robert.40
The pub trade is very difficult in the current market to make a sucess, I obviously wish your wife the very best of luck.
I am sure that she has already done so but if she is taking out a lease with one of the big chains go and speak to other licensees with the same chain in the area and get the low down.
I have been helping a couple of pubs recently, the lease and breweries lack of flexibility to competition or promotional offers basically strangled the financial viability of the pub.
in your text above you have stated that you have a joint bank account, if this has debts and she is forced into BR you will be equally responsible for the bank account or any joint loans.
good luck Richard |
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Robert.40
Starting Member
2 Posts |
Posted - 18 January 2011 : 03:37:08
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Thanks,
The bussiness accout which is runs along the limited company, yeah the pub game is hard, this pub is in Kendal, in the middle of our estate, with no comptition, so i am hoping for the best, tricky one
Thanks
Rob
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 18 January 2011 : 09:01:29
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| good luck |
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| bankruptcyhelp.org.uk Forum |
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If my wife's business venture fails is my house safe?
