Cash Loans – Cash Advances

Community property is best described as the property acquired during a marriage- not including gifts or inheritance. The property is owned jointly by both spouses and is divided upon divorce, annulment, or death.

There are nine community property states, including:
- Arizona
-California
- Idaho
-Louisiana
-Nevada
-New Mexico
-Texas
-Washington
-Wisconsin
-Puerto Rico
-As well as several Indian reservations also allow property to be owned as community property.

Legally, one spouse is responsible for individual or authorized user accounts of the other spouse if they live in a community property state. If this is the case, unfortunately, the surviving spouse will likely suffer the consequences of a bad credit report. Otherwise, if they do not live in a community property state the surviving spouse is not held accountable for the other spouse’s debts (and their personal credit with likely be unaffected).