For assets purchased with loan proceeds, the lender intent t…
For assets purchased with loan proceeds, the lender intent test applies to determine the character of the loan proceeds. When the community property presumption is rebutted by evidence that the lender relied solely on separate property to repay the loan, the court is applying the ______ case.
Read DetailsFor assets purchased with loan proceeds, the lender intent t…
For assets purchased with loan proceeds, the lender intent test applies to determine the character of the loan proceeds. When the community property presumption is rebutted by evidence that the lender relied primarily on separate property to repay the loan, the court is applying the ______ case.
Read DetailsWilla loved shopping for new clothes and shoes. She went sho…
Willa loved shopping for new clothes and shoes. She went shopping frequently and incurred $50,000 in credit card debt. Shortly after, she met and married Hunter. Hunter worked but Willa did not. Willa was embarrassed to tell Hunter of her credit card debt and eventually defaulted on the payments. If the credit card company seeks to satisfy the debt, the community property will be liable for the debt.
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