Any lawyers with community property knowledge?

[wdwstateofmind]

I have a basic question regarding my fiancee student debt and what would happen if I moved into a community property state (such as Arizona) even though the loan is from a non-community property state while both residents resided in the state of loan origin...

I'll probably get nothing, but it's worth a shot...

 

[songbird]

What's the question? Does her debt become yours? Is that what you're trying to figure out?

I practice in NY, which is not a community property state, so my first statement is: consult a lawyer in your state. I can only speak in generalities, I can't give you solid legal advice.

My second statement: read the loan documents. The terms of the loan are spelled out in the documents, and no one can give you an accurate answer without reading the documents. Usually the law that governs a loan is the law of the state where you entered the contract.

My third statement: community property jurisdictions usually distinguish between what's "community property", which is acquired during the marriage, and what's "separate property", which each of the spouses owned before entering into the marriage.

The right of a creditor to reach community property in satisfaction of a debt or other obligation incurred by one or both of the spouses varies from state to state.

In other words, it's a definite maybe.

 

[wdwstateofmind]

What's the question? Does her debt become yours? Is that what you're trying to figure out?

I practice in NY, which is not a community property state, so my first statement is: consult a lawyer in your state. I can only speak in generalities, I can't give you solid legal advice.

My second statement: read the loan documents. The terms of the loan are spelled out in the documents, and no one can give you an accurate answer without reading the documents. Usually the law that governs a loan is the law of the state where you entered the contract.

My third statement: community property jurisdictions usually distinguish between what's "community property", which is acquired during the marriage, and what's "separate property", which each of the spouses owned before entering into the marriage.

The right of a creditor to reach community property in satisfaction of a debt or other obligation incurred by one or both of the spouses varies from state to state.

In other words, it's a definite maybe.

I'm not worried about it being we live in Jersey right now. I'm more concerned if we move to lets say Arizona (my mother just moved there so we're considering it), that it will become my liability if anything happened to her even though the loan originated from a non-community property state and if it happened in Jersey it wouldn't be obviously due to the non-community property, I'm not a co-signee, and most federal student loans are absolved upon death...but I worry loop holes in a community property state if we moved there would all the sudden make me responsible for it just because they deem it necessary...

 

[wdwstateofmind]

I think I answered my own question upon further digging...I found this on a legal ad-vocation site...

"In community property states, most debts incurred by either spouse during the marriage are owed by the "community" (the couple), even if only one spouse signed the paperwork for a debt. The key here is during the marriage. So if you incur a debt, such as a student loan, while you're single, and then get married, it won't automatically become a joint debt. (An exception is where a spouse signs on to an account as a joint account holder after getting married.)"

...we didn't even meet until after college...seems to me I'm in the clear

 

[songbird]

As I said, it varies from state to state. You are PROBABLY in the clear. No guarantee unless you know the laws of the state you plan to move to.

And if she wins $1 million before you get married, you PROBABLY don't have a claim to that, either.