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Is the state of Virginia a community property state?

Contributor

Is the state of Virginia a community property state?

If so, what exactly does that mean.

 

Thanks!


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Current Score: Trans 731b>Eq 702Goal Score: 750

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Message 1 of 7
6 REPLIES
Moderator Emeritus

Re: Is the state of Virginia a community property state?

 


masseye wrote:

If so, what exactly does that mean.

 

Thanks!


 

Virginia is not a community property state. These are:

 

  • Arizona
  • California
  • Idaho
  • Louisiana
  • Nevada
  • New Mexico
  • Texas
  • Washington
  • Wisconsin
  • Territory of Puerto Rico.

Their laws state that property accumulated during a marriage would be divided equally in the event of a divorce.

 

Other states have a policy of dividing assets on an equitable distribution basis.

 

 

From a BK years ago to:

9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

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Message 2 of 7
Contributor

Re: Is the state of Virginia a community property state?

ok...thanks....I think I am confused...with what I am asking....

 

Is there a way that a husband or wife could purchase a house without having the other on the loan?

 

thanks.


Starting Score: Trans 708 Eq 700
Current Score: Trans 731b>Eq 702Goal Score: 750

Take the FICO Fitness20123226003331USD
Message 3 of 7
Moderator Emeritus

Re: Is the state of Virginia a community property state?

 


masseye wrote:

ok...thanks....I think I am confused...with what I am asking....

 

Is there a way that a husband or wife could purchase a house without having the other on the loan?

 

thanks.


 

I have no idea about that. Smiley Happy  I'll let others advise.

 

 

From a BK years ago to:

9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Credit Problems Which Is Worse?
Whats In Your FICO Score

Message 4 of 7
Valued Member

Re: Is the state of Virginia a community property state?

Yes we live in VA and did just that.My husband's name is on the loan and both our names are on the deed.

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Message 5 of 7
Contributor

Re: Is the state of Virginia a community property state?

sleepless,

 

how did they do that...did they include your debt in which your husbands salary could handle on his own?

 

Thanks,

Beth


Starting Score: Trans 708 Eq 700
Current Score: Trans 731b>Eq 702Goal Score: 750

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Message 6 of 7
New Contributor

Re: Is the state of Virginia a community property state?

I also am getting my mortgage without my spouse. However if you are not using your spouse's credit/debt you can not use their income either. All credit cards, car payments, etc with your name will be used in determining you debt to income ratio.

Message 7 of 7