90,000+ Legal Questions Answered
Divorce with Mutual Consent
Divorce with Mutual Consent
3 years ago
My wife and Myself are planning to take divorce with mutual consent.
We both have house in jointly owned and loaned. Post divorce she will be staying in the property. Since she is unemployed, post divorce, I wish to continue the House Ownership and Our Joint Loan as it is. Is this possible?
Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
You both are advisable to open a joint account and keep it funded over the course of the loan repayment.
Since your wife is not earning, you need to to provide alimony, which may or may not include the EMI of the loan. Another option for you both is to sell off the house and settle the home loan.
If you like my answer, please give a good review.
You both are advisable to open a joint account and keep it funded over the course of the loan repayment.
Since your wife is not earning, you need to to provide alimony, which may or may not include the EMI of the loan. Another option for you both is to sell off the house and settle the home loan.
If you like my answer, please give a good review.
Helpful
Helpful
Share
A.Hi,
You can open a joint account and keep it funded over the course of the loan repayment. In case, the wife is not earning, the husband needs to provide alimony, which may or may not include the EMI of the loan. Another option that can be exercised is that the couple can sell off the house and settle the home loan.
If you like my answer, please give a good review.
You can open a joint account and keep it funded over the course of the loan repayment. In case, the wife is not earning, the husband needs to provide alimony, which may or may not include the EMI of the loan. Another option that can be exercised is that the couple can sell off the house and settle the home loan.
If you like my answer, please give a good review.
Helpful
Helpful
Share
Vaidehi Samant
Responded 3 years ago
A.Yes you can have house and loan in joint name even after divorce but the same will be required to be stated appropriately in details in your consent terms for divorce. Also please note that if you are going by such arrangement the same can be problematic in the future in case you have a change of mind or financial reasons and if anyone of you want to sell the flat and other does not want to sell. Also at personal level if anyone of you plans to remarriage than such arrangement may not be liked by your then spouse.
I hope you found the advice helpful. Please provide feed back.Thank you.
I hope you found the advice helpful. Please provide feed back.Thank you.
Helpful
Helpful
Share
Read Related Answers
Read Blogs on Divorce
Divorce Lawyers
Find Lawyers by Location
