Legal Question in Family Law in New York
Debts and divorce
We have agreed to sell our house (our only asset together) paying off debts first before the split of the profits. My concern is his outstanding debts: credit cards, student loans and car loan..in his name only! He used his own income and I was not a co-signer on any of these debts. When we divorce, will I be responsible for half his debts? What is the best course of action to stop my liability to his debts prior to the divorce??
2 Answers from Attorneys
Re: Debts and divorce
What does your lawyer say about this?
If you do not have a lawyer, suggest you consult with experienced matrimonial counsel BEFORE you agree to sell the house, or anything else.
I practice in NYC and Long Island.
Cover your assets
You have to find out if you are legally obligated on any of the debts. The first question is if they arose during the marriage, the second are they debts required to keep the marrital estate proteced (ie food & shelter) or personal. Did both of you benefit from them?
You can stop the accrual of any further debt of his effecting you by starting a matrimonial or seperation action immediately.
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