Asked by Anonymous
Hi, i want to ask a question. In Malaysia let say i have one brother we bought a house together and each of us has 50% ownership , and my brother also has own business. In order to borrow personal loan to do his business, the bank require him to use his house as a collateral . My question is , because the house is share by two person, but only my brother do business, will the bank agree him to use this house 50% (my brother portion) as a collateral ? If yes, in case my brother business goes bankrupt one day, will the bank take any action to the house ? what action they can take, because 50% of the house is mine ? Can you advice what best solution for this kind of situation happen.
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