WHO PAYS THE MORTGAGE AFTER A DIVORCE?
When a couple gets divorced, not only issues such as child custody, the amount of alimony or use of the family home have to be taken into account. Apart from this, there are important patrimonial aspects like the payment of the mortgage, loans, invoices of supplies, etc…, that have to be solved equally.
As for the payment of the mortgage, the most important thing is to be clear that it is independent of who is awarded the use of the home.
In the divorce must be regulated who will be left with the use of the home, which will normally be who is attributed custody of children. Unless there is a prior agreement between the parties, the Court will not rule on who has to pay the mortgage after the divorce.
The mortgage will be paid at 50% if it is in marital property, by the owner of the dwelling if it encumbers a private property, or in proportion to the percentage of ownership.
The bank is indifferent to who uses the home, and will claim payment according to ownership of it. This is perhaps one of the most controversial issues, especially in the spouse who after the divorce has to leave the family home, and yet remains obliged to pay the mortgage loan.
WHO PAYS FOR HOUSING SUPPLIES AFTER DIVORCE?
In this case the solution is different than with the mortgage and governs the maximum who spends, pays.
The spouse who after the divorce keeps the use of the family home is the one who must pay the bills for supplies, even if they come in the name of the other spouse.
The best and most advisable thing is that after the divorce, all the supplies are changed to the name of the person who is going to live in the house.
USE OF VEHICLES.
The judge in a divorce proceeding, will not pronounce on the use of the vehicles, as it is a matter of the liquidation procedure. The most advisable is to reach an agreement in the divorce, and introduce this issue in the regulatory agreement.
PAYMENT OF PERSONAL LOANS.
In the case of personal loan payments have to be paid at 50% if they were requested on a community of property. If the loan was requested before the marriage, it will be paid as a private loan by the person who requested it. In the case of marriages in separation of property, the debt will accrue to the spouse who requested it.
If it is shown that some or all of the money in a private loan was reinvested in the common property of the marriage, a right to repayment could be given.
At López Morueco Abogados we will be delighted to help you process your divorce, dealing with all issues, both personal and financial. Do not hesitate to ask us for an appointment.