Legal Question in Bankruptcy in Virginia
Property acquired during marriage
A couple purchases a house during their marriage. The wife obtains the mortgage note from a bank. The husband's name is not on the note or title to the house. Two years later they are seeking a divorce and potential bankruptcy. Is the husband legally liable or responsible for the debt on the house under the divorce or bankruptcy proceedings?
Asked on 5/22/08, 7:15 pm
1 Answer from Attorneys
Susan Allen
The Law Office of Susan E. Allen, PLLC
Re: Property acquired during marriage
There may be an argument available that the debt is marital debt and it will be apportioned through an equitable distribution of the assets.
Answered on 5/23/08, 7:11 am
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