We are processing a loan for an S Corp (husband and wife). The collateral will be inventory and equipment. The property where the collateral is located is owned by the husband and wife. We are taking the property as well. The husband and wife are guarantees on the loan as well. I feel we need a landlord waiver for the inventory and equipment because the business does not own the property. Is this asking too much, I am being told it is.
I posted this in the operation compliance board this morning in error. I apologize for the double post but I did not get any responses. Thanks for your help.

Much of this would be on how courts in your jurisdiction have looked at this situation. You may be better off in consulting a qualified local attorney on the adequacy of collateral documentation.

Why would you treat this any different than if the corp was renting from someone else? We would require the Landlord Waiver. The corp is renting from the H&W aren't they?

That's what I thought. Thanks for your help..