Laura Dale & Associates, P.C.
Se Habla Español Nous Parlons Français
Call 713-574-7952 or 888-572-6059

Your divorce and your debts

Any person who lives in California and has agreed with their spouse to get divorced will have to face the difficult process of splitting up their marital estate. This means that not only will they have to work through negotiations for their belongings and other assets but for their debts as well. 

SoFi explains that California is a community property estate so most debts may be viewed as the equal responsibility of both spouses. There are nuances that can change that determination, however. Some might assume that if a debt is in one person's name only, it still remains their sole responsibility but that may not be. A student loan taken out during the marriage might be a joint responsibility if the money was used to pay rent, for example.

When it comes to mortgages, homeowning spouses will quickly learn why so many divorcing couples sell their homes. If one person wants to stay in the house, they really should get a new mortgage in their name only. This is the only way to avoid future financial liability for the other spouse.

What's the harm in keeping a joint mortgage if the divorce decree says that one person should pay it? Damaged credit can result for both parties if the spouse supposed to make mortgage payments fails to do so. A bank may also pursue repayment from anyone listed on the loan even if one party has signed a quit claim deed and no longer has any ownership in the property.

No Comments

Leave a comment
Comment Information

Client Testimonials

  1. Laura Dale the best Family Law attorney I have ever met... Posted by John...Listens, takes your calls, tells you the truth (even when it may not be what you want to hear)... Read More

  2. The Best...Posted by a Child Custody client... Laura Dale handled my international child custody and divorce matter. I am an attorney in Houston and was referred to her... Read More

  3. A Meticulous, Knowledgeable, Attorney with Heart...Posted by a Child Custody client... Laura was not the first attorney that my husband and I interviewed for an extremely complex... Read More

  4. Top Notch, Hands Down - The Best...Posted by Tammi, a Child Custody client... Laura Dale has been absolutely the best attorney I could have found for my difficult child custody... Read More

Contact Our Experienced Team Today | Se habla español | Nous parlons français

Due to the experience our lawyers have in many specialized areas, you can rely on us to put together the right team to handle your case, even if it centers on complex issues such as international family law, business valuation or bankruptcy. Contact us today to make an appointment to discuss your needs with a knowledgeable lawyer.

Login to Client Portal

Laura Dale & Associates, P.C.
1800 Saint James Place
Suite 620
Houston, TX 77056

Toll Free: 888-572-6059
Phone: 713-574-7952
Fax: 713-600-1718
Houston Law Office Map