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Originally Posted by CliffBeer I'm not positive but I believe that Australian law is consistent with US community property laws. Meaning, the assets of either member of the marital estate (husband or wife) are held jointly in the way of joint tenants such that all assets, regardless of whom may be named on a title, for example, are subject to the debts and burdens of the other member of the marital estate. In short, I expect it doesn't make any difference whos name is associated with any particular asset as all assets held by either h or w are subject to the debts of either. There are limited exclusions - for example, inheritences under certain circumstances where the inherited assets are not commingled in any way with the marital estate assets.
Not absolutely positive but I believe this is how it works down under. |
Cliff, that is not entirely true in the US. Each state handles it differently - some
states have community property laws, others do not.
Ian