Termination, Including the Division of Real Estate, Personal Property, Debts, Spousal Support, And, If There Isare a Form
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People also ask
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Is a new spouse responsible for past debt?
In almost every case, you will not be held responsible for debt your spouse has incurred before your marriage. The only exception to this rule is if you become a joint account holder after marriage. If you take this step, you will accept ownership of the debt and be held accountable for its repayment.
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What disqualifies you from spousal support in NY?
In most cases, if a spouse can work and their former spouse cannot afford to provide spousal support, the court can deny alimony. It is pertinent to note that New York is a no-fault divorce state, meaning both parties could cite fault grounds, however, it will not affect whether a spouse is granted spousal maintenance.
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How is property divided in a divorce in New York?
New York courts must divide the marital property “equitably.” That means fairly, considering the circumstances of the case and of the parties involved, but it does not necessarily mean “equally.” There is no statutory requirement of a 50/50 split of marital property.
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Am I responsible for my spouse's debt in NY?
Generally, a spouse is not liable for the other spouse's debt if it was acquired before marriage. Therefore, a creditor cannot go after your separate assets if your spouse owes money from before you got married. However, your spouse's share in joint assets could be at risk.
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Is separate property liable for community debts?
Community Property and Separate Property and the Basic Rule: However, it must be noted that separate property of either spouse will not be held liable for repaying the other's debts unless these debts were incurred to secure necessities of life (e.g. food, shelter, etc.
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Could the community property be liable for a spouse's previous separate property debt?
Are Community Property Assets Liable for Separate Property Debts Incurred During Marriage? Yes, unless an exception applies. Separate property debts may be incurred before or during marriage and therefore Family Code 910(a) applies.
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Can creditors go after community property?
A creditor can only seize community property for debts created during the marriage. Additionally, in California there is no liability for the miscellaneous debts of the other spouse once the marriage ends.
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Are you responsible for your spouse's debt after separation?
The good news is that ing to California law, spouses are generally not responsible for any debts incurred by the other spouse after the date of separation.
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