What Rights do Creditors have Against Marital Property in Enforcing Debts?
Debts incurred during marriage are presumed to be in the interest of the marriage or family. The creditor can collect those debts by going after all marital property of a couple or the individual property or the spouse who created the debt. The need to pay for each other’s debt can be limited by a marital property agreement. The creditor must be informed of the terms of the marital agreement before the debt is created. This may be advisable for spouses who are separated or cannot agree on money matters. What can be Done Under the Law if there is a Dispute Between Spouses About their Property? The law provides a number of remedies that can be sought in court. They include an accounting of the couple’s financial situation, having a spouse’s name added to a title document, restricting management and control rights of the other spouse and classifying property to determine what is marital, individual or mixed property. There are also remedies to allow access to marital property, to get prop
