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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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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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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
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

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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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

Take the FICO Fitness20123226003331USD
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.