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PURCHASER'S STATEMENT
IMPORTANT NOTICE:
Arizona is a "Community Property" state,
which generally means that all property, goods,
salaries, and debts acquired, earned, or contracted
after marriage belong, by law, to the marital
community. "Sole and Separate Property"
is generally defined as those goods, property,
income and debts acquired prior to marriage or
inheritance after marriage.
Either spouse individually may manage the community
property or bind the community to the payment of debt
(generally). The Bank may require both spouses to sign
certain loan documents necessary or thought necessary
to create a valid lien or security interest under applicable
Arizona law.
COMMUNITY PROPERTY DEBT:
"This application, unless otherwise marked below,
is to be considered as an application for credit extended
as a debt of the marital community, based upon the creditworthiness
of that community." Supply all information requested
on the application.
SOLE AND SEPARATE PROPERTY:
This is an application for individual credit as
sole and separate debt, which will be evaluated
without regard to the assets, income or creditworthiness
of the applicant's spouse or the applicant's marital
community. (The applicant should list only marital
status and no other information should be given
regarding the spouse (if any) except name and
address. Applicant should also list all debts
for which he/she is obligated by signing to promise
to pay, and should also list all sole and separate
assets and income.)
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