When will you have to pay off spouse’s debts

Posted: August 18th, 2013 | Author: | Money

Marriage is a social unit, which generally is connected with having a common property. In practice, this means so much that the couple meet their assets together unless there is joint property.

Today is a good day / photo on flickr

Today is a good day / photo on flickr

This is very important especially when entering into any kind of loan agreements with large sums frequently required the consent of the spouse, which is not all that hard to get right. Just give someone a stack of documents to sign at the time when he is tired or just do not have time for a closer look. And although I am sorry to write, it is better to read everything that we sign, even when we receive it from the hands of loved ones. In most cases, because if something will sign means that we express consent and to prove that it otherwise is very difficult, if not impossible. In this situation, most will be responsible for the debts spouse.

And what about the solution of community property, separation or divorce? If something like this happened already after the creation of the debt, that is, for example, after taking a loan the couple took a divorce, it is still a shared responsibility and possible execution of debt can affect both people. There is another situation in which we are not responsible for the debts of a spouse. This happens for example when the debt arose prior to the marriage. Then the creditor can not take a penny from the estate of his debtor’s spouse, even in court.

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