Legal Question in Family Law in Washington
Question about debts and property in a dissolution
We are financing a motor home. I would like to award it to him and get my name off it...however since we are still paying it off, Do I put it under award property, or under debts and liabilities?
if it goes under debts section do I have to list all of our debts at this time (I was intending to put it under properties then putting x in the spot for the courts to divide all Debts at a later date)
1 Answer from Attorneys
Re: Question about debts and property in a dissolution
Both. As an asset you allocate it to him as property with the value of the property noted. Under debt you list the financing of the property and the amount of the debt. Generally, courts will allocate the debt associated with a piece of property to the person who receives the property.
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