Getting Divorced in Utah: What Will Happen to Our Debt?
When dividing debt, Utah’s “equitable division” once again
applies. The division is made to be fair not necessarily split 50/50 between
the parties. If the spouses can reach an agreement, the arrangement will be
included in the divorce decree. If an agreement cannot be met, the court will
make divisions.
Debt associated with personal or real property, generally,
goes to the person who gets the property. So if you get a car and there is
still money owed on the car, you also get the debt. Debt that has been accrued
to benefit the family is generally split between parties.
Something to be aware of is that creditors are not bound to honor the division of debt specified in
the decree even if they have been informed of the division. If one party does
not pay a creditor, the creditor can demand payment of the other party, who
then has to try to collect money from the other.
Good luck in your search for answers. I hope this is
helpful.
(Click here to return to Life Changes: Divorce "home" blog)
(Click here to return to Life Changes: Divorce "home" blog)
If you find yourself needing assistance buying or selling a
home, my team can help you.
Call Chris: 435-313-3966
Or Visit: www.whystgeorge.com
Call Chris: 435-313-3966
Or Visit: www.whystgeorge.com
**I am not an
attorney and am in no way trying to give legal advice or practice law. The
information on this website is for informational purposes only and not for the
purpose of providing legal advice. You should contact an attorney to obtain
advice with respect to any particular issue or problem.
Two attorneys in St.
George, Utah that practice family law are Sam Draper and Adam Caldwell. The
primary source for information on this site has been the Utah Courts Website.
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