Is there a law that protects businesses from harassing creditors?

If my common-law husband contributes to the mortgage payments on my home, can his creditors come after my home?

  • It's pretty much summed up in the question, but the exact situation is: I own a business and he does do work for that business, which I pay him for, and issue him a T4. Between our two incomes, we are barely scraping by, and he has personal debt (in his name alone) for which creditors are chasing him (because he is behind on the payments). If he uses his paycheques to make the mortgage payment on my house (100% in my name, as is the mortgage), would his creditors have any claim on my house? To me, it's no different than if I were charging him rent, but I don't know what the law says. FWIW, he will pay back the debt once he finds steady work again, but right now that's not happening (which is why he has time to chip in and help me out), so I'm worried about what if his creditors sue him, and whether my assets might be at risk as a result. We've been very careful to protect them (we have absolutely no joint debt nor joint assets), and this is the only possible loose end, really. Thank you!

  • Answer:

    No, I don't see how they can do that, if the house is 100% in you name.

Jennifer at Yahoo! Answers Visit the source

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Other answers

It actually is possible, but it varies from state to state. Your location would greatly help.

Chch

He has no ownership in the house. He is just a tenant. His creditors cannot come after your house anymore than they could attach a home he was renting from any landlord.

bdancer222

As long as his name is not on the mortage contract his creditors can not have any claim on your house

Jon

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