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Answered in 2 minutes by:
10/21/2008
Flagbridge-CDN, Arbitrator
Category: Canada Law
Satisfied Customers: 4,618
Experience: Ontario Mediator/Arbitrator, and Legal Consultant. Law Graduate
VerifiedEven if you are married the other spouse is not liable for the debt unless it is co-signed, or on death if the debt is for marital purposes.
Only when the debt is co-signed are both parties liable for it regardless of marriage or not.
Only when the debt is co-signed are both parties liable for it regardless of marriage or not.
The assets will still need to be divided if you divorce.
The only debt you co-share is co-owned debt, which would be the co-credit card.
If however you sign cheques on the account for non business realted items, your husband can demand the return, and you would be liable for that.
In addition provided no business is a Joint Venture, or Partnership, then you have no personal liability for the business expenses, debts and/or losses.
The only debt you co-share is co-owned debt, which would be the co-credit card.
If however you sign cheques on the account for non business realted items, your husband can demand the return, and you would be liable for that.
In addition provided no business is a Joint Venture, or Partnership, then you have no personal liability for the business expenses, debts and/or losses.
Flagbridge-CDN, Arbitrator
Category: Canada Law
Satisfied Customers: 4,618
Experience: Ontario Mediator/Arbitrator, and Legal Consultant. Law Graduate
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