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To: donjuan_demarco who wrote (48747)10/18/2000 8:45:55 PM
From: Oral Roberts  Read Replies (1) | Respond to of 769670
 
Maybe it is unique to WI because we are a property state. When it comes to husband/wife any debt you incur is part of marital property, therefor both's obligation even if only one has signed.

I can also promise you in my state that when you file the death notice telling people to file now if they have bills against the deceased, they will be satisfied even if that involves a property held with right of survivorship. The only thing that avoids is the problem of using the funds in the account or living in the house. It does not wipe you from the bills.

Your example is saying that I can get all of the debt I want using my assets which are jointly held with rights and my heir does not have to worry about those debts when I die.

I respectfully submit that you are wrong.

Jeff



To: donjuan_demarco who wrote (48747)10/18/2000 10:20:02 PM
From: Selectric II  Read Replies (1) | Respond to of 769670
 
Questions:

1. In your example 1, wouldn't the transfer of title also be a default of the mortgage, causing it to become immediately due?

2. In your example 2, couldn't the title transfer be set aside under a state fraudulent conveyance statute?

Tia for your response.