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A creditor can take several steps to collect debt: sue you, get a judgment, garnish your paycheck, seize your paid for assets (like a car title or equipment, etc.) They can also tack liens onto your home. When you go to refinance or sell your home, your profit can be used to satisfy the debt you owe.
A credit card company could force a sale, but they would take a backseat to other liens, such as the first mortgage, second mortgage, or IRS debt.
If one spouse is in debt and the other is not, it is safer to sign title of the home to the one not in debt.
What else can I help you with?
What are the Georgia laws on divorce and how do they impact the division of assets between spouses?
In Georgia, divorce laws follow the principle of equitable distribution, which means that marital assets are divided fairly but not necessarily equally between spouses. Factors such as the length of the marriage, each spouse's financial contributions, and the needs of each party are considered in determining how assets are divided. It is important to note that separate property, such as assets acquired before the marriage or through inheritance, may not be subject to division.
What is a property agreement between spouses and how does it impact the division of assets in the event of a divorce?
A property agreement between spouses is a legal document that outlines how assets and debts will be divided in the event of a divorce. It can impact the division of assets by specifying which assets are considered separate or marital property, and how they will be distributed between the spouses. This agreement can help clarify ownership rights and prevent disputes during the divorce process.
Does a wife automatically inherit her spouses assets if it is in the will and nobody contests it?
yes
What were insurance companies' assets in 1992?
Insurance companies controlled about $1.6 trillion in assets in 1992
How does marriage impact the ownership and division of property between spouses?
Marriage impacts the ownership and division of property between spouses by establishing a legal framework that typically considers assets acquired during the marriage as shared property. This means that in the event of a divorce or separation, assets and debts acquired during the marriage are usually divided equitably between the spouses.
What were the assets of bank holding companies in 1965?
They controlled about $27.5 billion in deposit assets
Is surviving spouse responsible for spouses credit card debts in Georgia?
The laws in Georgia are the same as other places. They presume that the spouse inherits at least half, if not all, of the other spouse's assets. But the estate has to liquidate all debts before they can transfer any assets to the spouse. One way or another, the spouse ends up paying the debt. The spouse has some right in all real property owned by the husband. If the assets are not enough to cover the debt, the real property may have a lien placed against it to cover those debts.
Can you sue your spouses girlfriend that committed adultery and caused the breakdown of your marriage for assets that you lost through the divorce?
Ask your lawyer.
What were the assets of bank holding companies in 1974?
MBHCs controlled approximately $359 billion in assets
What impact does divorce have on the division of stocks and assets in a marriage?
In a divorce, stocks and assets acquired during the marriage are typically divided equitably between the spouses, following state laws and court decisions.
Wifes assets if you file bankruptcy?
if your legally married when you file bankruptcy, you must include every single asset including the spouses. depends on what type of bk you file. you may be able to keep your assets.
Is a vehicle a assets or liabilities?
For businesses and companies, vehicles can often be assets. However, for most individuals vehicles are a liability
