5 Star Rated Best Family Law, Criminal Defense, Personal Injury, and DUI Lawyers. The business owner's personal guarantee is a separate legal agreement. Stock had to determine if using community funds to purchase credit for time the husband served in the military before the parties were married transformed those years of service from the husband’s sole and separate property into community property. Property acquired during marriage as community property; exceptions; effect of service of a petition. Examples of community property include: real estate, home furnishings, vehicles, bank accounts, investment accounts, credit card debts, student loans, car payments, and some retirement plans. (602) 825-2500. As of 2020, there are nine states where community property laws are observed. Promissory Note, Borrowing Resolutions, Security Agreement, Deed of Trust & Personal Guaranty. , PMB #275 Seattle, WA 98133 E-mail: [email protected] your state law, earnings of a spouse living separately and apart from the other spouse continue as community property. 219 W. did not have a will, but you are related to the decedent as: 1. 4803058300. The court also holds that joint tenancy property should be treated similarly to community property under Arizona law (A. Protect the one you love most by reaching out to us for help. Yes. , Eminent domain is the power of government to a. Robertson, No. 3 attorney answers. It depends largely on the circumstances. Professional Chandler Property Management means providing full service including marketing, screening, leasing, rent collection, maintenance, and being available 24 hours a day every day. In the case of Leisure Lane it was determined the community contributed $39,741. These guarantees require a guarantor to accept full liability for the loan. Area. In these states, if you get a guaranty from only one spouse, then only their separate property is subject to the guaranty. MARITAL PROPERTY RIGHTS AND LIABILITIES. Community property states include Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Puerto Rico, Texas, Washington, and Wisconsin. So before you sign that dotted line, make sure you completely understand what a. 3. Federal estate tax return – due nine months after the individual’s death, though an automatic six-month extension is available if asked for prior to the conclusion of the nine-month period. unwritten guarantees of individual liberty. Both parties hold equal, shared ownership of the property, regardless of who contributed what to the purchase. If your individual guarantor is married, both spouses must sign the guaranty in order to bind the marital community property. Universal Citation: AZ Rev Stat § 25-211 (2021) 25-211. So what that means is if the couple purchased shares, for example, that were worth $100 and on the death of the first spouse, they're worth $1,000, the new basis in the property will be $1,000. Memo. determining community versus sole property in arizona; creation of a community lien on sole and separate property in arizona; community property laws about a spouse’s personal guarantee in arizona; choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona Arizona is one of nine community property states. Washington. To originate a mortgage for manufactured housing eligible for sale to Fannie Mae, it must be titled as real property in a process that varies from state to state. C. ”. Then, in 2020, Manuel apparently decided he didn’t want his wife to receive his share of property upon his death. Without a loan, many small businesses would never get off the ground. 020, acquired after marriage or after registration of a state registered domestic partnership by either domestic partner or either husband or wife or both, is community property. Alter the duties and rights of either spouse with respect to the management of community property except as prescribed pursuant to section 25-315, subsection. ASRS shall use reasonable judgment to distribute the account in a manner that is consistent with Arizona community. S. Unlimited personal guarantees. Alter the status of preexisting community property. Kunz, 79 P. Arizona’s community property laws are typical of the traditional Spanish division of spousal property. A personal guaranty of another’s debt must be signed by both spouses for community property to be bound, otherwise only the. Here, we will discuss the latter, to give you better insight into the division of property and debt process during your divorce. , on the other hand, is that which was owned prior to the marriage. § 14-3916 Community property; Article 10 Closing Estates. Wisconsin. A litigation guarantee or a foreclosure report is issued for the judicial foreclosure of a real property security interest. Usually, a guarantor is needed when. The nine community property states are: Arizona, California, Idaho,The individual signing this personal guaranty agrees to provide complete personal. Right of survivorship is also offered with community property, meaning that if one spouse passes away, their. Learn more about some of our most recent case results in criminal law, personal injury, elder law and eminent domain. Neither of you would be responsible for the other person's debt in that scenario. Community property. Sutton says that the waiver of the personal guarantee for loans below $200,000 should be reflected in the contract. When one or both partners have debt coming into the marriage, the debt belongs solely to the person who incurred them. It specifies the amount owed, if interest will be charged, the interest. The meaning and extension of community differs in various jurisdictions. C. , v. A personal guaranty of another’s debt must be signed by both spouses for community property to be bound, otherwise. 4. Second, personal guarantees in Arizona must be signed by both spouses in order to collect against community assets. 2016-232). , there are two systems that govern marital property: community property and common law (also called marital property). When you begin the process of getting divorced in Arizona, you will come to learn that most of the contention is around two things: child custody and financial matters. However, a valid prenuptial or postnuptial agreement can detail which marital assets are not shared. Affidavit Exempt Pursuant to ARS 42. California, Nevada and Washington also include. You can schedule your initial consultation by calling (480) 888-7111 or. However, any money earned or assets acquired before marriage by a spouse is the separate property of that spouse. Bell-Kilbourn made a decision regarding the effect of a Disclaimer Deed in a divorce in Arizona. In that case, the person’s spouse must execute a disclaimer deed to allow the person to continue to hold the real estate as their sole and separate property rather than as community property. Arizona Community Property Law at a Glance; Husband or wife liable for debts of other incurred before marriage?: Community property is available to pay the separate debt of a spouse if the debt was incurred before the marriage and after September 1, 1973, but only to the extent of that spouse’s contribution to the community property. Community property is a form of joint property ownership law in nine states and two territories; it is optional in three states. “If the government were on top of it, they would change the document,” says. The other 50% belongs to the surviving spouse who. In most cases, property obtained during a marriage is community property. A warranty deed is a legal document used in commercial real estate transactions to transfer property with a guarantee of clear title and buyer protection. THAT each of us individually and jointly hereby assert and affirm that it is our intention to accept said instrument as community property with right of survivorship and to acquire any interest in, or any proceeds arising out ofSalary and Wages: At any time after death, the surviving spouse may collect salary or wages up to $5000 that was due to the person who died by completing an affidavit and giving it to the employer. Important Fact About Personal Guarantees & Arizona Community Property. Therefore, your spouse's debts may negatively affect your mortgage application. Let’s cover each of these concepts individually. The spouses, who have an undivided one-half interest in the community property, would share the $25,000 equally ($25,000/2 = $12,500 for each spouse). Examples of community property in Arizona could include the following, though it may depend on how and when they were acquired: Bank accounts, whether held jointly or in each party’s separate names; Personal property including. Save. ACCEPTANCE OF COMMUNITY PROPERTY WITH RIGHT OF SURVIVORSHIP , each being duly sworn upon oath for himself or herself, and jointly, but not one for the other, deposes and says: That I am one of the Grantees named in that certain deed which is Dated and executed by , as Grantor and , as Grantee and which instrument concerns the. You can make a claim directly to Amazon, and our team will determine if you're eligible for a refund. October 13, 2023. The court may impress a lien on the separate property of either party or the marital property awarded to either party in order to secure the payment of: 1. The A-to-z Guarantee protects you when you buy items sold and fulfilled by a third-party seller. (See Becchelli v. Before I recommend the last of the three options, let’s discuss. B. You will need to include the full name, phone number, email address, and mailing address. Arizona Revised Statutes, Title 25, Chapter 2, Article 2, Section 25-211 states that all property acquired during marriage is considered community property in Arizona, except those that were: Acquired after service of divorce petition, annulment petition, or legal separation petition (but only if the petition results in a decree). Fortunately, most states are not community property states so your spouse cannot be pursued for your debts. By offering that security, you may be able to borrow more in the long run. The guarantee report is generally a commitment to insure title to the property in the name of the. The latter coming into play in California July of 2001. 001. Property not acquired or owned, as prescribed in RCW 26. The Arizona Court of Appeals affirmed the ruling of the lower court. The U. By assuring that the property attached to the note is of sufficient value to cover the amount of the loan, the payee thus has a guarantee of being repaid. Liability of a Spouse for Credit Card Debt in Arizona. In an Arizona Court of Appeals case argued by DMMG attorney Spencer Schiefer, the court clarified whether accrued vacation pay is community property. 2. Those states are Alaska, South Dakota and Tennessee. In Arizona, both spouses are required to sign a personal guarantee before their community property can be used to satisfy a debt under a personal guarantee. The separate property of a spouse shall not be liable for the separate debts or obligations of the other spouse, absent agreement of the property owner to the contrary. Community Property Defined. The Arizona rule — pronounced in a 1926 case and consistently followed – was that any amounts of money recovered for injuries to one spouse during the marriage are community property. The guaranteeing individual is known as the guarantor, and the entity that the business owes the money to is the creditor. This means both spouses have property rights to assets acquired in the marriage. If a creditor is trying to enforce a personal guarantee against you, an experienced asset protection attorney at Nielsen Law Group is available for a complimentary review of your asset situation. Earnings of either spouse during a marriage are community property in Arizona. The main difference between joint tenants vs community property with right of survivorship lies in how the property is taxed after the death of a spouse. An estate in community property with right of survivorship may also be created by grant or transfer from a husband and wife, when. ) you own as well. Also, in most states (except community property states, discussed above), a creditor can't take property that belongs to you and your spouse if the debt is in your name only. • Up to 80% LTV on multi family , 75% on commercial (90% with SBA)Arizona Medicaid Long-Term Care Definition. 2d 965, the Arizona court reviewed a similar case. In this situation, you must contact the ordering party before proceeding. After earning a law degree from the University of Arizona, he clerked for two years for a U. Lien on Real Property. Ariz. Arizona is a community property state. In Arizona, debt collectors can garnish up to 25% of the borrower’s disposable earnings. Even in community property states, not all assets are. The landlord amended its complaint to include the spouse of each guarantor pursuant to the community property obligations set forth in California's Family Code section 910. American Express Business Line of Credit: Best for line of credit. Similarly, debts incurred during the marriage are generally considered community property debts. Arizona is a community property state and community property law controls the division of all assets of your marital estate. This holds true even if you purchased the policy before getting married. When you sign a quit claim deed, you do not make any guarantees or promises about whether someone else also has a legal interest in the property. Texas law defines community property as all of the property that either spouse acquires during the marriage, except separate property. In addition to AVVO's disclaimer, please note that by this answer no attorney client relationship is intended nor entered into and unless there is a signed retainer agreement in place, neither me nor. AZ commercial mortgage rates start as low as 5. 76% (as of November 16th, 2023) • A commercial mortgage broker with over 30 years of lending experience. About half of the states permit a property owner to transfer real estate in a transfer-on-death deed. A personal guarantee is an individual’s legal promise to repay the debts of a business in the event that the business defaults on the debt. A. This might just be what is needed to get your funding application over the line. e. See IRM 25. Understanding the Minimum Insurance Limits in Arizona. Idaho. This means that community property includes bank accounts, retirement accounts, income,. In addition, it must be signed by all parties involved in the transaction and should be witnessed,. By contrast, 10 states are community property states — Arizona, California, Idaho, New Mexico, Louisiana, Washington, Nevada, Texas,. Small estates with less than $75,000 in personal property and less than $100,000 in real property are exempt from probate. Upon the death of the decedent, the co-owner becomes. You were misled by the creditor when signing the guarantee, an act of fraud has taken place. The Arizona Court of Appeals in the published case of Stock vs. A special warranty deed is a legal document that transfers ownership of real property from one person to another. Several years later, the law firm defaulted under the lease, and the landlord sued the guarantors. 16. state-level legal distinction of a married individual's assets. " To create the trust, spouses must follow certain rules. When the borrower sells their house, a portion of the. Fraud for purposes of a bankruptcy dischargeability complaint cannot be imputed to a spouse based on a theory of Arizona community property law. At death, each spouse has a right to transfer their one-half of the community property. Choose the formatting from the authorized develop and obtain it on your system. C. Office Location. See Ariz. If the company defaults on the loan, any business owner who signs a guarantee is personally liable for the remaining balance. To help you find your perfect rental property, we also provide tenant. What is community "personal" property? Personal property is anything that is not real property. In community property states, spouses are considered joint owners of nearly all assets and debts acquired in marriage. Arizona law defines community property as all property acquired by either spouse during the marriage. Arizona generally defines community property as that acquired by the couple during marriage, irrespective of whose name it is under. He may be reached at (216) 573-6000 or at [email protected] Arizona Revised Statutes Title 33 - Property § 33-431 Grants and devises to two or more persons; estates in common; community property with right of survivorship; joint tenants with right of survivorship. Community property is also sometimes called marital property, and it basically means that whatever your spouse owns asset-wise (real property, income, etc. In other words, if one party purchased the asset during the marriage, then it is considered community property. Let’s cover each of these concepts individually. Under Arizona's community property laws, all assets and debts a couple acquires during marriage belong equally to both spouses. So before you sign that dotted line, make sure you completely understand what a. What is Community Property Law in Arizona and Why Does it Matter? Arizona is a community property state and community property law controls the division of all. Community property law sets forth a presumption that all real and personal property acquired during marriage is community property – meaning that the “property” is owned 50% by Husband and 50% by Wife. N. 003 (2022); Tex. Those states are Alaska, South Dakota and Tennessee. But these nine states are the only. A personal guarantee is an individual’s legal promise to repay the debts of a business in the event that the business defaults on the debt. community property. The problem for a lender requesting a personal guaranty from a principal's spouse is that the federal Equal Credit Opportunity Act ("ECOA") has often been interpreted by courts as making it illegal for the lender to unilaterally require the guaranty without first meeting some strict criteria. This is relevant for Arizona’s community property laws because of geography—modern-day Arizona lies on lands that used to belong to Mexico. cmt. In 2003, Manuel and Carol Hernandez bought a home just outside Bullhead City, Arizona. So, if a. Grants and devises to two or more persons; estates in common; community property with right of survivorship; joint tenants with right of survivorship on Westlaw. The consequence for credit cards in community property states is that any card debt that. In a common law state, marital property is owned by the spouse that bought it. For the consideration of Ten Dollars, and other valuable considerations, I or we, do hereby convey to. § 25. Below is an introduction to these topics,. Community property or spousal interest: when property owned jointly between spouses or the spouse’s interest in pledged collateral is exempt from enforced collection. A. . This additional level of assurance is commonly required. The theory behind community property is that as spouses contribute to the marriage with income and maintain a household, they equally share in the accumulated assets and debts. Insurance Lawyer. Limitations of the Personal Guarantee. Your spouse-to-be has $10,000 in credit card debt in their name. B. 2005 Arizona Revised Statutes - Revised Statutes §25-215 Liability of community property and separate property for community and separate debts. For example, you may have been led to believe that another director was a co-guarantor when they weren’t. b. 2d 59 (1973); Battiste v. guarantee to citizens a. Guarantee 3. Personal guarantees are by definition unsecured, which means that they’re not. Even a stay-at-home. 8. Stat. In addition to assets that already have a designated beneficiary (like a life insurance or a bank account), estates with a value of $166,250 or less may qualify for a non-formal probate case. It can be difficult to figure out whether you can use a simplified informal process to transfer property. The guarantor's information (name, contact info, etc. Again, this discussion is based on California. A limited personal guarantee means the guarantor (the person who signed the personal guarantee) is still personally liable for debts the business cannot pay, but only to a specified limit. Article 3 - Rules of Construction and Interpretation. The state of Alaska allows couples to choose whether they would like to follow community property or common law when dividing their marital assets upon death or divorce. This means that all of your personal assets are on the line. to receive the property and you can prove it; OR • The person who died . creation of a community lien on sole and separate property in arizona; community property laws about a spouse’s personal guarantee in arizona; choosing. Community property laws rule in divorce court, splitting assets 50/50. Some markets may be longer, and some may be shorter — in Flagstaff, for example, that number. A property system where the presumption is that each spouse contributes income and assets to the "community" of the spouses, and shares equally in any earnings, assets, and debts of the community. If you have questions about filing a homestead and separate property in an Arizona divorce case, you should seriously consider contacting the attorneys at Hildebrand Law, PC. These can be very technical issues. 17-1694 (8th Cir. They go as follows: Additionally, some states actually allow married couples to opt into community property rules. Arizona Community Property Laws. Folks considering asset protection in any of the nine states (AZ, CA, ID, LA, NV, NM, TX, WA, WI) that have Community Property laws are often mystified and confused by what it all means. gifts or inheritances that one spouse received, either before or during the marriage. So in the above example, the husband’s assets would not be subject to seizure by the wife’s premarital student loan creditors. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the. The decedent must have recorded this deed before their death in the county where the property is located. They go as follows: Additionally, some states actually allow married couples to opt into community property rules. Thus, lenders usually seek both spouses’ signatures on guarantees in order to bind all. In several other states, spouses can decide to opt into a community property system or designate certain assets as community property. California community property laws are. Disposition. In each state, you and your spouse have to create a community property agreement. Please prove you are human by selecting the plane. S. e. GENERAL RULES FOR SEPARATE AND COMMUNITY PROPERTY. tenants in common. These types of LLC. From an income tax. WARRANTY DEED 1. D. In these states, any assets acquired by spouses throughout their marriage are labeled as community property regardless of who bought them. An increase in the value of that separate property during the marriage is also separate property. Content on this website does not. There are. Regardless of the animal’s unique role in the family, pets are personal property. If the property was held as community property. To make the guarantee, you promise to pay for business debts using your personal assets, including cash, real estate, and other assets or investments you might have. Illinois. Martin $46,688. In Arizona, the separate property of a spouse is not liable for the separate debts of the other spouse unless there is an agreement by the non-debtor spouse to the contrary. In that event, each spouse will get personal property, assets, and debts whose worth adds up to an assigned percentage. However, as a landlord, your contents coverage. which i believe, after researching the law, Rackmaster vs. Most states also let you keep a couple of thousand dollars' worth of business equipment and tools of the trade, as well as money in tax-deferred retirement plans. At least two California courts have ruled in landmark decisions that a quitclaim deed does not negate community property ownership. A-to-z Guarantee. Our Florence Law Firm is staffed with family law attorneys that offer Divorce Mediation, Uncontested Divorce, Contested Divorce, Legal Separation, Female Divorce Lawyers, Annulment, Child Support Issues, Child Custody, Military Divorce, Parenting. Marital property is something a couple buys during their marriage. Under Arizona community property laws, the assets and debts acquired by a married couple belong to each spouse equally—but the division of property does not need to be exactly equal in a divorce. In addition to the above states, Alaska is considered an “opt-in” state. To talk with a respected estate lawyer, please phone us at (480)-442-4175 or fill out our contact form to schedule an appointment. Fundbox: Best for startups. Under Arizona law, in order to bind the community property of a husband and wife, the signautres of both husband and wife are required. In Arizona, community property refers to any property or assets acquired such as income, real estate, personal property, and debts acquired during the marriage. creation of a community lien on sole and separate property in arizona; community property laws about a spouse’s personal guarantee in arizona; choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona creation of a community lien on sole and separate property in arizona; community property laws about a spouse’s personal guarantee in arizona; choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona Folks considering asset protection in any of the nine states (AZ, CA, ID, LA, NV, NM, TX, WA, WI) that have Community Property laws are often mystified and confused by what it all means. In addition, your spouse must report $2,000 as alimony received. For example, in one jurisdiction, damages for personal injuries received by a married person are regarded as a community property, but an unliquidated claim or cause of action for personal injury damages is not a community property[x]. The Agreement is made in accordance with Chapter 2 of Title 25 of the Arizona Revised Statutes. CHAPTER 3. New Mexico. comA personal guarantee may unenforceable if: The lender did not provide you with all the facts, which affected your decision to sign the guarantee. The answers depend on whether the community property is owned subject to a right of survivorship. Community Property: A U. The issues discussed in this chapter are base on Arizona law. S. You are merely signing over your legal interest, if any, in the property. Personal guarantees are by definition unsecured, which means that they’re not. k. However, a couple can formally agree to hold real property as joint tenants. It would not appear on the partner’s credit score. However, there are contrary arguments that can be made, including fraud or mistake, or the fact that the community paid the mortgage and other expenses associated with the home. Community property is a state-level legal distinction that determines ownership of a married couple’s assets. Wells Fargo: Best for traditional bank. Also, if you were married to, or in a registered. line between community property and sole and separate property. Leaving aside this overarching problem, there is a. In Kentucky, spouses can create a "community property trust. Guarantee funds can also be used for refinancing the debt of an essential community. Stock had to determine if using community funds to purchase credit for time the husband served in the military before the parties were married transformed those years of service from the husband’s sole and separate property into community property. Updated September 12, 2023. A. Centrally located in the West Valley. 1. Change the status of community property used to acquire new property or the status of that new property as community property. C. 800-799-7233. The guaranteeing individual is known as the guarantor, and the entity that the business owes the money to is the creditor. Alaska allows spouses to create community property by entering into a community property agreement or by creating. 02. Chandler Property Management. The parties were married on February 15. New Mexico. All community property, which can include real estate, bank accounts, brokerage accounts, etc. " It is literally that broad. The same applies to other assets such as wages earned by either person or. 50% of the next $200,000,000 made available. , Suite 206 , Tempe , AZ - 85281 , Telephone No. The spouses have equal management, control and disposition rights over their community property and have equal power to bind the community. All. The community property is liable for a spouse's. Assets acquired before a marriage are excluded. THAT the interests of the undersigned are being taken by them as Community Property with right of survivorship. Quick Answer. 01 Ownership of interest in limited liability company in joint tenancy or community property with right of survivorship. Const. For example, the trust must state that it is a community property trust, and be signed by both spouses. One year after meeting at a senior citizens dance in Mesa, Arizona in 1992, Anthony Toth and Gloria Snyder Toth were married (Anthony, age 87 and Gloria, age 66). Classification of Debts/Rights of Creditors a. At least. 2nd Street. Art. In the case of real property owned by a husband and wife as community property with right of survivorship, the right of survivorship is extinguished as provided in § 14-2804 or on the recordation in the office of the recorder of the county or counties where the real property is located an affidavit entitled “affidavit terminating right of survivorship” executed by either spouse under. There's no protection from a company. Arthur Grebow and Kenneth Barish each signed personal guarantees of the lease. Phone: (206) 784-5305 Fax: (206) 789-8103 10115 Greenwood Ave. A. Even though a guarantor may never have to make a personal payment toward the company’s debt, the guaranty may cause issues for the guarantor. *Nevada. creation of a community lien on sole and separate property in arizona; community property laws about a spouse’s personal guarantee in arizona; choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona A Spouse Only Owns 50% of Joint Tenancy Property. 2d 812, 124 Ariz. S. com®. Yuma, AZ 85364. For Immediate Help - Call Us (480) 438-8014. 25-318. According to our research, the nine community property states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. If the couple divorces, the community property must be divided and distributed to the parties. Idaho. Some banks require a spouse’s guarantee in addition to your own, so assets held solely in your spouse’s name are fair game for the lender. Second, personal guarantees in Arizona must be signed by both spouses in order to collect against community assets. Under Arizona law, the landlord may have the right to evict you, lock you out of the property, and later put the business property. 2 (Unif. With traditional home insurance policies, the contents coverage amount is usually about 75% of the dwelling coverage. Click here for a PDF of this overview. and personal guaranty issues; (3) Tax controversy issues (i. 1 CA-CV 14-0341 (App. Study with Quizlet and memorize flashcards containing terms like Civil liberties are a. There may be unintended tax consequences, loss of control and/or liability risks. Arizona’s community property laws are typical of the traditional Spanish division of spousal property. If you’re unable to repay a loan, you can face severe legal and financial penalties, but you do have some options. Collison’s Cadillac stayed separate goods or became community property. Community Property. Fam. § 25-214(C)(2). A family member will just need to submit a petition that outlines the decedent’s liabilities, assets, and. A personal guarantee helps business owners get approved for a loan if the business doesn't have its own credit rating. With a limited personal guarantee,. Certified Legal Document Preparer Program. R. Surviving. Arizona has a six-year statute of limitations for breach of contract under ARS 12-548. #25-213. Income and debt are jointly owned in community property states unless the income or debt is. Upon the death of one spouse, every asset that is community property is divided in half. Alter the status of preexisting community property. If real estate is acquired during the marriage, this fact overrides the provisions of any deed that transfers title into one spouse's name alone. There are two options: (1) obtain a quit claim deed before proceeding; or (2) write the guarantee as a litigation guarantee for two causes of action: (a) leading to a. The community property is liable for the premarital separate debts or other liabilities of a spouse, incurred after September 1, 1973 but only to the extent of the value of that. Entering a personal guarantee means you provide the lender with more security by pledging your personal capital and assets. Our Arizona community property and family law attorneys have over 100 years of combined experience. La Paz County Assessor 1112 Joshua Avenue, Suite 204, Parker AZ 85344 (928) 669-6165 Maricopa County Assessor 301 West Jefferson, Phoenix AZ 85003Community property states include Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. In community property states, most debts incurred by either spouse during the marriage are owed by the "community" (the couple), even if only one spouse signed the paperwork for a debt. They can do this in two ways: Through a last will and testament (a “will”).