Common use of Separate debt Clause in Contracts

Separate debt. With respect to any debts or obligations incurred during marriage, any debts or obligations incurred by either Party during the marriage will be such Party’s sole responsibility, and the other Party will not assume or become responsible for such debts or obligations without his or her written consent. Each Party will indemnify the other Party and be responsible for all related expenses including attorney’s fees if a debt or obligation is asserted as a claim or demand against the other Party’s property. However, the following debts or obligations will be considered the marital debt of both Parties: All debts and obligations that are incurred by both Parties jointly will be treated as marital debt and will be the obligation of both Parties equally or as otherwise designated in a writing signed by both Parties.

Separate debt. With respect to any debts or obligations incurred during marriage, any debts or obligations incurred by either Party during the marriage will be such Party’s sole responsibility, and the other Party will not assume or become responsible for such debts or obligations without his or her written consent. Each Party will indemnify the other Party and be responsible for all related expenses including attorney’s fees if a debt or obligation is asserted as a claim or demand against the other Party’s property. However, the following debts or obligations will be considered the marital debt of both Parties: All debts and obligations that are incurred by both Parties jointly will be treated as marital debt and will be the obligation of both Parties equally or as otherwise designated in a writing signed by both Parties.

Separate debt. With respect to any debts or obligations incurred during marriage, any debts or obligations incurred by either Party during the marriage will be such Party’s sole responsibility, and the other Party will not assume or become responsible for such debts or obligations without his or her written consent. Each Party will indemnify the other Party and be responsible for all related expenses including attorney’s fees if a debt or obligation is asserted as a claim or demand against the other Party’s property. However, the following debts or obligations will be considered the marital debt of both Parties: All debts and obligations that are incurred by both Parties jointly will be treated as marital debt and will be the obligation of both Parties equally or as otherwise designated in a writing signed by both Parties.: