California, United States of America
The following excerpt is from Mobasser v. Yermian, B247269 (Cal. App. 2014):
vehicles, or other current assets, if any. Respondent did not present evidence or even inquire about any liabilities or indebtedness (or equity) attached to these assets. (See Kelly v. Haag (2006) 145 Cal.App.4th 916, 917 [even if defendant currently owned properties, absence of evidence of encumbrances or other liabilities on them defeats punitive damages award].) Respondent did ask appellant about his "monthly expenses," and appellant volunteered that he had mortgages on his two homes. Nonetheless, respondent did not inquire whether those expenses and mortgages represented the full extent of his liabilities.
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