Legal Question in Family Law in Virginia

Business Debt

What is the status of debt taken while establishing a sole-propriatary business by only one spouse? Is the debt, and any property used for the business (cars) marital property, and therefore divided betwen both spouses?


Asked on 12/22/06, 11:55 am

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Business Debt

No, not unless the other spouse agreed to guarantee and personally signed for the loan.

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Answered on 12/23/06, 7:56 pm


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