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Alex J.
Alex J., Solicitor
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lease with a commercial property.

Resolved Question:

My husband is negotiating a lease with a commercial property. I have not signed anything but my bank account details have been used to convince a landlord he is solvent. He has named himself personal guarantor. Am I liable for the lease... a) without signing b) as a spouse who has 'helped' secure it with her bank details.

He has another lease with a commercial property, he is the director and has given a directors guarantee. Corespondance to this is in both our names. Have i signed something for this. Does this make me equally liable?

Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.
Alex J. : Hi Thank you for your question and welcome. There is a very old piece of law that is also good law called the Statute of Frauds 1677. This says you cannot be held liable for another persons debts unless you accept the liability in writing. Therefore unless you actually sign the lease or sign a personal guarantee for the lease you cannot be held liable for your husbands debt incurred under this lease obligation. Your assets would not become subject to any liability including your share of any joint assets- I would note though that debts can be secured against joint assets but only against your husbands share without your consent.
Customer:

Thank you-that is reassuring and what I thought must be correct.

Alex J., Solicitor
Category: Law
Satisfied Customers: 3557
Experience: Solicitors 2 years plus PQE
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