How is debt and property handled in a divorce?

In New Hampshire, when a couple divorces, debt and property are handled in accordance with the state’s community property laws. Community property is any asset or debt that was acquired during the marriage or that was used to benefit both spouses. These items are usually divided between the two spouses in a way that is deemed fair and just. This means that each spouse will typically receive half of any assets that were acquired during the marriage, as well as half of any debt that was accrued. In order to determine the assets and debts that must be divided, each spouse will need to provide a full accounting of all marital property. This includes a list of all assets and debts that were acquired during the marriage, along with their approximate value. With this information, the court can then make a determination about how the assets and debts should be divided. The court may also order the sale of a marital home or other assets in order to pay down any outstanding debts. If this is the case, the proceeds of the sale will be divided among the spouses in accordance with the court’s decision. In addition, the court may order one spouse to pay support or alimony to the other, either in a lump sum or in periodic payments. Ultimately, divorcing couples should seek legal advice when it comes to dealing with debt and property in a divorce. This will help ensure that their rights and obligations are properly protected during the process.

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