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Can a bank account held solely by the non debtor spouse be garnished for the debtor spouse's debts if the couple reside in a community property state?
In all likelihood it would be possible. In community property states a married couple own all property obtained during the marriage equally (with the exception of inheritances). Likewise, they owe all debts incurred during the marriage equally regardless of which spouse is the account holder. In most cases that would allow a creditor to levy a bank account that is held solely by the non debtor spouse. Texas and Wisconsin are not "true" community property states as they treat marital debt in a different manner than do all other CP states.
What else can I help you with?
Can a spouse in Texas have his or hers wages garnished by the IRS for a tax lien that the spouse incured before the marriage?
Yes. Texas is a community property state, and all income earned by both spouses is property of the community. Because of this, technically your wages are also his wages and the IRS can go after them.
In what circumstances can separate property become community property?
Separate property can however, become community property through a process called \"commingling \". This happens when separate property is mixed or \"commingled\" with community property. If, for example, a spouse deposits his inheritance into a joint bank account where both spouses make withdrawals and deposits, the inheritance could at some point be considered \"commingled\" and part of the marital assets.
Can purchasers of farm property which are all in a community property state buy the property thru an llc that is in a non community property state to protect themselves from spouses or future spouses?
That's complicated enough, and the consequences of getting it wrong are severe enough, that you really should consult an attorney.
What does community property state mean?
The term community property state means that the community property in a marriage divided equally between the two parties when there is a divorce. This property usually does not include property owned before the marriage.
If unmarried does community property exist in CA?
There are nine community property states - Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. In addition, Puerto Rico is a community property jurisdiction. These states generally regard as community property all property that has been acquired during the marriage, other than a gift or inheritance. Even if one spouse earns all the money to acquire the property, all the property acquired is considered to be community property. While there are a number of differences in each state, all states have special laws that operate on the theory that both spouses contribute equally to the marriage; thus all property acquired during the marriage is the result of the combined efforts of both spouses. In community property jurisdictions, spouses equally own all community property (fifty percent owned by the husband and fifty percent owned by the wife).
Is California a common law property state?
Yes, California is a community property state, not a common law property state. In community property states, assets acquired during marriage are generally considered jointly owned by both spouses.
Is inherited property community property?
No. But the inheritance should always be kept separate and not co-mingled with marital property.
Can your spouse be garnished in the state of Alabama that the spouse incured?
Spouses share ownership of property, if it belongs to your spouse it belongs to you and therefore may be subject to any debt recovery measures used agaisnt you.
Can a bank account held soley by the non debtor spouse be levied for the debtor spouses debts if the couple reside in a non community property state?
If it can be proven that the debtor has funds going into the non debtors account then the amounts that are going into the non-debtors account that originally were funds belonging to the debtor can be levied.
What is the default marital regime in Mexico?
The default marital regime in Mexico is partial community of property. When no prenuptial agreement exists, partial community of property applies at the time of divorce or death of one of the spouses.
What states are community property?
COMMUNITY PROPERTY STATES • Arizona • California • Idaho • Louisiana • Nevada • New Mexico • Texas • Washington • Wisconsin Alaska is an opt-in community property state; property is separate property unless both parties agree to make it community property through a community property agreement or a community property trust.
What if you live in a community property state and on spouse owned property before the marriage if they divorce what are the spouses rights?
Property owned prior to marriage is not considered community property unless it was converted to community property by some action by the parties.Property owned prior to marriage is not considered community property unless it was converted to community property by some action by the parties.Property owned prior to marriage is not considered community property unless it was converted to community property by some action by the parties.Property owned prior to marriage is not considered community property unless it was converted to community property by some action by the parties.
