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Difference between revisions of "Basic Principles of Property and Debt in Family Law"
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Basic Principles of Property and Debt in Family Law (view source)
Revision as of 04:18, 20 May 2013
, 04:18, 20 May 2013→Family property and family debt
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<blockquote><blockquote><tt>(b) after the date of separation, if incurred for the purpose of maintaining family property.</tt></blockquote></blockquote> | <blockquote><blockquote><tt>(b) after the date of separation, if incurred for the purpose of maintaining family property.</tt></blockquote></blockquote> | ||
In other words, all of the debt accumulating from the date the spouses began to live together or got married, whichever is earlier, to the ''date of separation'' is family debt. Family debt includes debt that is incurred ''after separation'' if the debt was incurred for family property, for example | In other words, all of the debt accumulating from the date the spouses began to live together or got married, whichever is earlier, to the ''date of separation'' is family debt. Family debt includes debt that is incurred ''after separation'' if the debt was incurred for family property, for example if a spouse takes out a loan to make the mortgage payments on the family home. Since the family home is family property, the loan is a family debt that both spouses are responsible for. | ||
====The triggering event==== | ====The triggering event==== | ||
