When opening an account or a new loan for a general partnership, is it acceptable to use one of the partners SS# for the Partnership? They never got an EIN for the partnership.
When it is necessary or desirable to perfect security interests in aircraft, engines, propellers or spare parts in the United States a lender must consider a multitude of issues. For many lenders and their counsel the process of recording instruments with the Federal Aviation Administration (the "FAA") and registering aircraft in the United States needlessly remains a mystery. The following is an explanation of the most critical issues a lender must address to ensure that documents submitted to the FAA will be accepted for recording.
We have a loan request from a limited partnership that is owned by an executive officer's wife and her family. Is this loan subject to the Regulation O $100,000 limit for Executive Officers?
On the W-9 form, what is the difference between a C Corporation and a S Corporation?
I have a PLLC opened with a husband and wife. It is in the wife's social security number. They both want to leave that way. Can they do this?
We have made a loan for a partnership which has four partners. In the past, we have had a separate guaranty for each partner. Now our new officer is saying that we do not need separate guarantees as long as they all sign on the note. Is this true?
Where in the regulations does it state that a trust (family, corporate, etc.) is not considered a "natural person?"
Do I have to collect GMI data on commercial loans that are secured by residential property and subject to HMDA when the borrower is a LLC or Limited Partnership?
When lending to an informal partnership what is the appropriate documentation to obtain and how should the documents be titled?
A husband and wife own a commercial property and run a business at the location. The business is operated as a DBA/sole proprietorship. The wife works outside of the business and earns the majority of household income. Can a rewrite of the commercial mortgage be considered to the owners with the proceeds being for personal use? Very little of the proceeds would go back into the business.