The answer is "sort of".
It would depend on the facts and circumstances surrounding the loan and what it was intended for.
Generally, debts and property acquired during the course of the marriage are considered to be joint and thereby equitably distributed in a divorce. However things that are contracted for by each spouse are held to be individual-unless the facts and circumstances point to a spouse's involvement in the purchase.
Then, the fiction of "not in my name" wouldn't hold a lot of water.
I had my hat handed to me on this very subject a few months ago in Marshall County.
