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  1. #1
    Join Date
    May 2008
    Posts
    5

    Default Am I Liable for My Wife's Debt

    My question involves personal finance in the State of: California

    CALIFORNIA

    Hey all,

    I was wondering what sort of legal action can be taken against me if my wife has personal unpaid debts. She currently owes her son $100,000 in a signed contract, but she does not have the money and he is threatening to sue me. We have only been married 3 years and HAVE a prenuptial agreement. We generally split our finances, but I was wondering if I still would also be liable for this money, or if it is only her burden.

    She currently is out of work, and I would have a tough time coming up with $100,000 of course (I only make that in about 3 years of work).

    The contract was also not a professional legal contract. It was just a plain sheet of paper where they both signed their names and acknowledged she owed him money. Would that hold up in court even? Or does it have to be a certified legal contract of some sort? They also have signed a new one in the last year for the SAME loan (just a newer contract), does that reset the statue of limitations? If not, what is the statue in California? Any help would be greatly appreciateed.

    Thank you very much,
    Hijynx

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Am I Liable for My Wife's Debt

    This money was borrowed before or after you married? If after, for what purpose?

  3. #3
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: Am I Liable for My Wife's Debt

    California is a community property state & debts assumed within the marriage are joint obligations of both spouses even if only one spouse is party to the contract. Therefore, we need the answer to Aaron's question whether the money was borrowed before or after you were married.

    What did she borrow $100,000 from her son for? Has she made any payments on the loan (any installments payments for example)?

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