Section 7.16 Allocation of Marital Debts
| Library | Family Law Deskbook and 2014 Supp |
F. (§7.16) Allocation of Marital Debts
Debts and Liabilities
From and after the signing of this Agreement, each party will be solely liable for the debts acquired by each party individually.
[Petitioner] shall be responsible for the following debts: [list debts].
[Respondent] shall be responsible for the following debts: [list debts].
[There are no marital debts for the court to allocate.]
Indemnification: The parties agree to indemnify and hold harmless the other and to defend the other from and against any claims and liabilities and will reimburse the other for any and all expenses made or incurred by the other, either directly, or indirectly, including a reasonable attorney fee, as a result of the party’s failure to pay or otherwise satisfy the specific debts and liabilities assumed by...
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