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Forum nameBiz Ideas
Topic subjectquestion for community property state
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=103&topic_id=2768
2768, question for community property state
Posted by marcele6770, Fri Jul-18-08 04:11 PM
Here is my question, I live in a community property state and
my wife wants to purchase an existing business that is in her
profession. I have a permanent disability and cannot work. I
receive workers compensation every month and I am prohibited
from earning any other income. Because I live in a community
property state does that stop my wife from purchasing a
business just in her name? And if she can purchase a business
in her name can she use my income as well as hers to get
financing?  Thank you
2771, RE: question for community property state
Posted by DeenaEsq, Sun Jul-20-08 01:28 AM
Let me start by saying that I am not a divorce lawyer, so I'm not 100% sure, but I belive that although she can purchase a business in her name alone, if the two of you were to divorce in a community property state, you would be entitled to half of the buusiness.

Hope that helps.

Deena
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Any opinions are offered without knowledge of the specific law of your jurisdiction and with only the limited information provided in your post. No advice given here should be reasonably relied upon by you or any third party without consulting an attorney who is aware of all of the facts and law surrounding your situation. Any advice given here is not intended to create an attorney-client relationship in any way.
2772, RE: question for community property state
Posted by hostingdiva, Sun Jul-20-08 06:42 AM
I think you need to consult an attorney -- or just call the worker's comp office help line. You don't need to tell them who you are to get information :-)

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