(a) Community debts shall be satisfied first from all community property and all property in which the spouses own an undivided equal interest as joint tenants or tenants in common, excluding the residence of the spouses. Should such property be insufficient, community debts shall then be
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satisfied from the residence of the spouses. Should such property be insuf- ficient, only the separate property of the spouse who contracted or incurred the debt shall be liable for its satisfaction. If both spouses contracted or incurred the debt, the separate property of both spouses is jointly and severally liable for its satisfaction. (b) This Section shall apply only while both spouses are living, and shall not apply to the satisfaction of debts after the death of one or both spouses. SOURCE: CC § 158 enacted by P.L. 15-113:2.