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Binding Effects of Premarital Agreements on Creditors

Posted on : July 15, 2016, By:  Christopher Hildebrand
Binding Effects of Premarital Agreements on Creditors

Binding Effects of Premarital Agreements on Creditors Arizona law permits couples to enter into premarital agreements about their finances. An agreement is valid as long as both spouses entered into it voluntarily and with full disclosure. But, do valid prenuptial agreements bind third party creditors? In Schlaefer v Financial Management Service, Inc, 996 P.2d 745 […]

Posted in : Arizona Community Property Laws , Leave a comment

When a Creditor May Take Sole and Separate Assets of a Spouse

Posted on : July 12, 2016, By:  Christopher Hildebrand
When a Creditor May Take Sole and Separate Assets of a Spouse in Arizona.

When a Creditor May Take Sole and Separate Assets of a Spouse In Majewski v. Eyre, 542 P.2d 1123 (1975), the Court of Appeals considered a wife’s liability for a debt. Mrs. Majewski and Mr. Majewski married in 1955 and divorced in 1972. In 1966, wife and husband entered into two separate agreements. First, they borrowed $15,000 […]

Posted in : Arizona Community Property Laws , Leave a comment

Is Separate Property Liable for Community Debt in Arizona

Posted on : July 7, 2016, By:  Christopher Hildebrand
Is Community Property Liable for Separate Debt

Is Separate Property Liable for Community Debt in Arizona? Under Arizona law, earnings of either spouse during a marriage are community property. In a divorce, the court divides the community property between the two. Creditors can recover community debt from community property, but not generally from the separate property of one spouse. In Union Bank […]

Posted in : Arizona Community Property Laws , Leave a comment