What is a status quo order in divorce?
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What is a status quo order in divorce?
For child custody, “status quo” refers to the parental arrangement before the actual child custody hearings. Often, parents have separated and already created custody arrangements before the official divorce. For instance, the child or children may already be living with one parent before they even file for divorce.
Can I buy a house before my divorce is final?
Can you buy the house while the divorce is pending, or must you absolutely wait until the divorce is finalized? You can purchase the house before you receive the divorce decree. However, if done improperly, you could make some serious mistakes that could impact your finances and affect ownership of the home.
Can you get a mortgage without a divorce decree?
Mortgage lenders cannot ask you whether you’re single, divorced or widowed. Most lenders want to see a copy of your separation agreement if you have one, or your divorce decree. This is because if you’re paying alimony or child support, it could impact your debt-to-income ratio.
Can you buy a house when you are separated?
Buying a home while legally married but separated from your former spouse is certainly possible, but there’s some extra documentation needed and things to be aware of. First, your lender is going to require your legal separation agreement. If you have a property settlement agreement, they’ll need that as well.
Is debt divided equally in a divorce?
Overview of Division of Property and Debts in California California is a “community property” state, which means that generally, assets acquired and debts incurred by either spouse during the marriage belong equally to both spouses.
How is credit card debt divided in a divorce?
The basics
- Most importantly, try to leave your marriage with no joint debt.
- Pay off the joint cards together or divide up the debt on joint cards and transfer it to cards in each partner’s name.
- Cancel all undiscussed joint credit cards.
- Clearly agree to who will pay off the debt on which cards.
Are married couples responsible for each other’s debt?
Since California is a community property state, the law applies that the community estate shared between both individuals is liable for a debt incurred by either spouse during the marriage. All community property shared equally between husband and wife can be held liable for repaying the debts of one spouse.
Is a husband responsible for his wife’s credit card debt?
In common law states, you’re usually only liable for credit card debt if the obligation is in your name. So, if the credit card is only in your spouse’s name, you’re typically not liable for that debt.
Is credit card debt forgiven upon death?
After someone has passed, their estate is responsible for paying off any debts owed, including those from credit cards. Relatives typically aren’t responsible for using their own money to pay off credit card debt after death.
