Mortgage after divorce: how to divide debts?

20.04.2012 09:00
Articles about real estate | Mortgage after divorce: how to divide debts? "If the spouses have much in common, they have something to share in a divorce." * Sometimes it has to divide the debts, eg mortgage apartment.

Life is complicated and unpredictable, is that plans for a shared future can not be realized, and ideas-it was great: a tree to plant, build a house, children grow up. Not all home construction took place easily, often people take a mortgage loan and do not always have time to extinguish it before the divorce. What to do in this situation?

Related article: All about loans and credit

Family and Civil Codes of all property acquired in marriage is joint property, regardless of the personal contribution of each spouse. The apartment is purchased in a mortgage is also jointly acquired property, even if the mortgage agreement is designed only to one spouse and the other on the documents is only a surety. Each of the former spouse may claim half of the money paid to the bank before the divorce, or a share in the apartment. However, before you become the property of their apartment, it is necessary to pay the debt. If the former husband and wife can not agree on payments to the bank and systematically violate their terms, or not paying at all, then the Bank may impose a penalty on the property mortgaged under a contract of mortgage. According to his lawyer Oleg Sukhova, the bank can resort to such actions, if the timing of payments violated more than three times in 12 months, even if each of the delay is negligible.

Foreclose on the property mortgaged under a contract of mortgage, by a decision of the court. After the court's decision and issue a writ of execution, the bank receives title to the mortgaged property of the former spouses, and the right to evict them and sell the apartment. Such issues are not favorable for the former couple, since the presence of fines and penalties will result in loss of property without compensation paid interest on the loan and part of the payments that were made during the marriage. Therefore, disputes over mortgage payments should be solved "amicably", as though it may be difficult. And here, according to a lawyer Oleg Sukhov, there are several ways to solve the problem.

The first way is in proportion to the shares

Thus, the responsibility for the mortgage loan total, and the relationship of people do not care about the bank, he is interested in only money. This situation can be awkward when one spouse has a well-paid job and can pay off the debt, and the other spouse does not work or receive a small salary. Here, people either agree on their own or go to court, which divides the general rules of debt in proportion to the shares awarded in the common property. Contact the bank to share the credit for the two parts to each spouse could pay their debts but most often useless. Usually, banks refuse to divide a joint obligation on the two individual.

The second method is to take over the debt

"Get on the debt itself," - sounds promising, but we should not forget that often when people change divorce and nothing is being done free of charge. If one spouse refuses to pay the mortgage, the other can take over all liabilities. After the loan is paid compensation for the spouse refuses to be equal to half the value of the debt paid before the divorce, and the apartment is owned to repay the loan. This is possible only if the voluntary agreement of the former spouses. If one spouse on his own initiative repay the debt for the other side, he will be entitled to claim reimbursement only half the sum paid, but the right to demand to increase their own share of the apartment he will not arise.

Actions to translate the general obligations of the spouses on the loan for one of the spouses must have the consent of all parties to the relationship, including the bank. Upon reaching consensus on this issue made the appropriate changes in the credit agreement. By the loan agreement signed additional agreements, executed a new mortgage, but the former is canceled.

The third way is to sell the apartment and to repay bank

If the former spouse does not want to have anything in common, the best way out - sales of assets and repayment of the loan. Sale of residential premises encumbered by a pledge, to be implemented with the consent of the parties and under the control of the bank. This is mainly through the real estate agents - partners of the bank. Remaining after payment of obligations amount is divided between the spouses.

Thus, it is clear that it is cheaper to decide for themselves in the way of the disputed issue and the decision not to bring the matter to court, as the debt owed to the bank, in any case would have to pay.
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