In California, the community property is liable for the debts of either spouse. In fact, the community property is liable for the debts that either spouse brings to the marriage as well as the debts incurred during marriage. Nor can that creditor take property you acquire after the marriage ends.
Even if your spouse opens up a line of credit in their name only, you could still be liable for that debt. Creditors can go after a couple’s joint assets to pay an individual’s debt. In that case, the creditor can only go after the person responsible for the debt.
Can a company pursue you for your husband’s debts?
SM A To put your mind at rest, the companies your husband is borrowing from will not be able to recover his debts from your house if he defaults on his repayments. They would be able to pursue you for your husband’s debts only if the loans were in your joint names, which I am assuming they are not.
Who is liable for my husband’s debts?
Am I liable for my husband’s debts? Q I bought a house seven years ago – in my name only. My husband, son and I live in the house and I have paid the mortgage since then. My husband doesn’t make any financial contribution towards the mortgage. All the household bills are in my name, although my husband does pay half of these costs.
How to deal with debt after a spouse’s death?
You’ll need to continue to make payments on any outstanding balances. With joint accounts, the surviving spouse has two main options: Close the account and pay off any balance, or request that the account be changed to an individual account in his or her name and continue to pay as agreed.
What happens if my husband defaults on his mortgage?
A To put your mind at rest, the companies your husband is borrowing from will not be able to recover his debts from your house if he defaults on his repayments. They would be able to pursue you for your husband’s debts only if the loans were in your joint names, which I am assuming they are not.
