The impact of the guarantee policy to a loan under the community property: specially the guarantee to a mortgage loan

Abstract

In order to guarantee the payment of the loans, creditors require safeguards that ensure those are going to be satisfied by their debtors; especially when a banking entity involves as a lender. In this sense, the guarantee of a mortgage loan appears as a fairly common situation; as it is that the guarantor is also married under a community property, which requires an analysis of the liability for this personal guarantee in order to combine the interests of the creditors with the protection that deserves the common goods. It requires to determine whether the obligations of the guarantor spouse are considered loads, or not. Reason: the clear economic consequences as a possible embargo and execution of goods under community property would have on the family