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Division of Debts Upon Divorce

Equitable distribution requires the court to divide not only the assets of the parties, but also their debts. Given the common nature of debt in modern society, it is surprising how little statutory guidance exists as to how debt should be divided. When establishing rules for the division of assets, most statutes contain carefully drafted rules which set forth the process of classification and division in some detail. Yet often these statutes devote only a sentence or two to the classification and division of debts. Necessarily, therefore, much of the nationwide law on the division of debts has been established by the courts themselves.

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