Legal Question in Business Law in Utah
Community Property
I got married 2 years ago my husband came into my life with nothing, my home, cars ect.. are all purchased prior to marriage, he hasn't worked steady but did a remodel job last year and is now getting sued for not completing the job, breach of contract. Am I in jepardy of loosing my assets?
1 Answer from Attorneys
Re: Community Property
First, Utah is not a "community property" state.
Only assets belonging to your husband are at risk. That also means, however, that if he is a joint owner of property with you his share of that is legally at risk. If his name is not on any of your assets you are probably going to be ok, and even if he is as a "joint" owner (not "tenant in common," which is not likely) it would be hard to separate out his undivided one-half.
I hope this helps.
Related Questions & Answers
-
Employment Case I'm asking for an opinion on a case. Specifically, I want to know if... Asked 2/17/09, 2:37 pm in United States Utah Business Law
-
Resignation of President/Manager We recently had our President/Manager resign. We... Asked 2/17/09, 11:20 am in United States Utah Business Law
-
Fire a director or President or Partner I was reading one of your answers and found... Asked 2/08/09, 2:18 pm in United States Utah Business Law
-
S Corp Changes We need to change our President, our address and a loan in an S Corp.... Asked 2/08/09, 2:12 pm in United States Utah Business Law
-
Forefeiture of ownership I think I let a business partner cheated me out of my 1/2... Asked 2/02/09, 6:27 pm in United States Utah Business Law