Legal Question in Real Estate Law in Nevada

spousal responsibility

My husband is 1/3 owner in a fast

growing small business. The business

has decided to purchase a house

w/property. They were unable to

make the purchase under the

company name so the house is being

purchased under the 3 partners

name. I am not part of the business.

Could I be held legally responsible for

the mortgage of the property if

something should happen to any/all

of the partners since I am the spouse

of one, the other two partners

happen to be a married couple. I live

in the state of Nevada. I am told that

I would be, but would like to know for

sure. Thank you


Asked on 1/29/09, 9:49 pm

1 Answer from Attorneys
James Smith James E. Smith Ltd.

Re: spousal responsibility

In a community property state a spouse is responsible for debts incurred by the other spouse while married unless she gets a release from the creditor of this obligation at the time it is incurred.

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Answered on 1/30/09, 9:31 am


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