Since I just got married and my husband and I are refinancing my home to add him to the loan/deed, if he declares bankruptcy will it affect me and my home?

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Since I just got married and my husband and I are refinancing my home to add him to the loan/deed, if he declares bankruptcy will it affect me and my home?

He may have to claim bankruptcy over a debt from his prior marriage. Can debt collectors from his prior marriage come after me since we’re now married?

Asked on March 5, 2013 under Bankruptcy Law, California

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

It would be advisable NOT to add your husband to the loan and deed on your home at this time because if he files bankruptcy, that property will be included since he is an owner.

If your husband does not have any ownership interest in your home, and files bankruptcy on his debt from a former marriage, you are NOT liable for his pre-marriage debt because that debt is his separate property.

Separate property is property acquired before marriage.  Separate property also includes income and debt before marriage.  A spouse is not liable for the other spouse's pre-marriage debt.  A spouse has no claim to the other spouse's separate property.

Property acquired during marriage is community property.  Each spouse has a one half interest in the community property.  Community property also includes income and debt during marriage.


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