Posted on legal but had no responses. Feeling a bit backed into a corner...
My DH passed away over a year ago and we are still sorting out his estate. He and his BIL ran a company together with 50% shares each (1 share each). They also took out a loan together which they both personally guaranteed.
The plan is for there to be a swap - I give the share and the loan liability is passed to BIL’s wife BUT the loan company won’t do this until BIL has majority shares and they have done checks on BIL’s wife and the company. So that puts me at risk of having transferred the share and still being liable for the loan.
I don’t know what to do - BIL’s solicitor has not come up with any solutions.