Ask Question
BusinessBusiness
2 May, 14:34

A and B are married and own property as tenants by the entirety. The property is worth $500,000. A incurs a debt of $100,000 and can't repay the debt. Can the creditor go after A's share of the property to collect the debt? If so, why? If not, why not?

+4
Answers (1)
  1. 2 May, 15:05
    0
    Answer: People who have the status of a creditor in front of only one of the spouses cannot access the property that the 2 possess while they both live there.

    As in this case the creditor is only creditor of "A", he cannot only pursue the part of "A" therefore he cannot obtain the execution of the property.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A and B are married and own property as tenants by the entirety. The property is worth $500,000. A incurs a debt of $100,000 and can't ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which of the following is an example of crowding out? a. An increase in government spending increases interest rates, causing investment to fall. b. A decrease in private savings increases interest rates, causing investment to fall. c.
Answers (1)
Based on budgeted sales of 29,000 units next year, the unit product cost of a particular product is $62.60. The company's selling and administrative expenses for this product are budgeted to be $827,200 in total for the year.
Answers (1)
Assume the real rate of interest is 3.00% and the inflation rate is 6.00%. What is the value today of receiving 14,488.00 in 13.00 years?
Answers (1)
Branch managers at First National Bank report to both a retail banking manager and a central operations officer. One of the managers is focused on sales and the other on control measures.
Answers (1)
Consider the following scenario: X is an inferior good. What would happen to the price of X if the cost of production of X increased at the same time as the consumers incomes (increased).
Answers (1)
New Questions in Business
The difference between money coming into a country from exports and money leaving a country due to imports, plus money flows from other factors, is known as the: a. balance of trade b. balance of payments c. free trade d. trade deficit
Answers (1)
You own and are the only employee of a company that sells custom embroidered pet sweaters. Last year your total revenue was $120,000. Your costs for equipment, rent, and supplies were $30,000.
Answers (2)
When a country has a comparative advantage in producing a certain good, a. the country should import that good. b. the country should produce just enough of that good for its own consumption.
Answers (1)
When wendy's advertising emphasizes that a combo meal can come with any of a number of sides, not just fries, the company is appealing to american consumers' preference for?
Answers (1)
Critical Chain Project Management (CCPM) attempts to keep the most highly demanded resource busy on critical chain activities, but not overloaded. True/false
Answers (1)
Home » Business » A and B are married and own property as tenants by the entirety. The property is worth $500,000. A incurs a debt of $100,000 and can't repay the debt.
Sign Up Forgot Password?