A Divorce Agreement and divorce order does not change or alter the terms of a Promissory Note, per se.
The holder of a note can still pursue an ex-wife for the money due and owing, per the spouse’s agreement or Divorce order.
However, if the holder pursues the ex-wife, the ex-wife would have the ability to pursue her ex-husband for re-payment of any amount paid to the holder not in accordance with the Divorce order.
So, the holder still has the right to pursue each party on the note; the effect of the divorce agreement or order is that the party agreeing to pay will end up paying the entire balance of the note “at the end of the day.” If the Promissory Note is held by a family member, collecting money from one spouse may mean collecting from the other in reality — so consideration should be given to the Divorce Agreement in such a situation
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