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Citizens v. Ouhrabka: Difference between revisions
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|citation=190 Vt. 251, 30 A.3d 1266 | |citation=190 Vt. 251, 30 A.3d 1266 | ||
|date=August 5, 2011 | |date=August 5, 2011 | ||
|facts=* Ouhrabka was the owner of a jewelry store in Rhode Island | |facts=*Ouhrabka was the owner of a jewelry store in Rhode Island | ||
* RBS Citizens, N.A. = Citizens Bank = a bank that loaned Ouhrabka's company more than $15 million | *RBS Citizens, N.A. = Citizens Bank = a bank that loaned Ouhrabka's company more than $15 million | ||
* In August 2006, Ouhrabka signed a personal guarantee with Citizens Banks ("Citizens") whereby he became personally responsible for 1/2 million dollars of the debt | *In August 2006, Ouhrabka signed a personal guarantee with Citizens Banks ("Citizens") whereby he became personally responsible for 1/2 million dollars of the debt | ||
*Later on, Ouhrabka accepted personal liability for all of the jewelry company's debt | |||
*Ouhrabka submitted a financial statement to Citizens listing his house that he co-owned with his wife as '''tenants by the entirety''' | |||
*Ouhrabka's house with his wife was worth $1/4 million at the time | |||
*The jewelry store was placed into receivership. | |||
|procedural_history=* Citizens Bank sued Ouhrabka in a Vermont state court seeking to recover an estimated $10 million. | |||
|rule=* [https://www.quimbee.com/keyterms/tenancy-by-the-entirety tenancy by the entirety] = American co-ownership of land between spouses | |rule=* [https://www.quimbee.com/keyterms/tenancy-by-the-entirety tenancy by the entirety] = American co-ownership of land between spouses | ||
|case_text_links={{Infobox Case Brief/Case Text Link | |case_text_links={{Infobox Case Brief/Case Text Link | ||
Revision as of 21:48, April 26, 2024
| Citizens v. Ouhrabka | |
| Court | Vermont Supreme Court |
|---|---|
| Citation | 190 Vt. 251, 30 A.3d 1266 |
| Date decided | August 5, 2011 |
Facts
- Ouhrabka was the owner of a jewelry store in Rhode Island
- RBS Citizens, N.A. = Citizens Bank = a bank that loaned Ouhrabka's company more than $15 million
- In August 2006, Ouhrabka signed a personal guarantee with Citizens Banks ("Citizens") whereby he became personally responsible for 1/2 million dollars of the debt
- Later on, Ouhrabka accepted personal liability for all of the jewelry company's debt
- Ouhrabka submitted a financial statement to Citizens listing his house that he co-owned with his wife as tenants by the entirety
- Ouhrabka's house with his wife was worth $1/4 million at the time
- The jewelry store was placed into receivership.
Procedural History
- Citizens Bank sued Ouhrabka in a Vermont state court seeking to recover an estimated $10 million.
Rule
- tenancy by the entirety = American co-ownership of land between spouses
