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Updated about 12 years ago,
Liens on partners primary residence affects our multi unit properties
How do i protect our investment properties being affected by liens against him and his other business . We went to refinance the multi-unit and when doing a title check discovered that his construction business had a lien placed on his primary house. Refinancer indicated that for us to refinance the multi unit - as his name is on the title, this lien on his private house must be addressed . To make matters worse , the refinance company wont refinance properties in a LLC. What i need is advice to how to get this properties refinanced and protect myself against my partners personal issues. I dont want his businesses to affect my portion of the multi units . both our names are on the title of the investment properties . If i later sold the multi unit , would only his half be used to pay off his lien and my 50% not be affected even if his half doesnt cover the entire lien . Any advice . Wells fargo wont refinance a loan in a LLC .
Thanks