Under the law of some community property states, married persons may agree to convert some or all of their separate property to community property. Such an agreement may be referred to as an agreement to convert separate property to community property or as a transmutation agreement.

The legal character or nature of debts of married persons may also be changed by transmutation in some community property states—changing debts of the parties’ separate estates to debts of the community estate, or debts of the community estate to debts of the separate estates. But an agreement between married persons to change a community debt to the debt of one of the spouses separate estates may not be binding on the creditor—unless the creditor agrees in writing to only look to one spouse for satisfaction of the debt.

In community property states, the laws regarding the availability and scope of transmutation agreements vary from state to state. These laws are usually located in a state’s statutes—often in the family code or domestic relations code.

Mississippi is not a community property state; it operates under the equitable distribution model. In community property states, property acquired during marriage is generally considered owned equally by both spouses. However, in Mississippi, marital property is divided equitably, but not necessarily equally, in the event of a divorce. Since Mississippi does not follow community property laws, the concept of transmutation agreements, where separate property is converted to community property, is not applicable in the same way as it would be in community property states. Debts in Mississippi are also divided during a divorce based on equitable distribution principles, and any agreement to change the nature of the debt from joint to separate would likely need to be agreed upon by the creditor to be enforceable. It's important for individuals in Mississippi to consult with an attorney to understand how marital property and debts will be treated in the event of a divorce.