A life as a couple also requires a budget managed by both parties, but there are consequences for mortgage loans in divorce situations depending on the property regime decided.
Different matrimonial property regimes:
#1 Separation of property
A prenuptial agreement stipulating the sole and exclusive ownership of the partners' property, whether future or existing at the time of the marriage. This law is mandatory if at least one of the partners is 60 years old.
#2 General communion
As the name suggests, the assets of the two parties are common at the time of the marriage.
#3 Communion of acquisitions
Unlike the previous regimes, this one stipulates the union of assets obtained after the date of the celebration. Therefore, all the assets that the parties already owned before the marriage are considered their own assets.
#4 De facto union
Rights obtained as if the couple had entered into marriage, but they must have lived together for more than two years and apply to the Parish Council for a declaration proving this.
Bear in mind that if no type of regime described above is established, communion of acquired assets will automatically apply, and you can also make changes to the regimes to suit the situation in question.
Are home loans affected?
Under the regime of general community of property, the financing requested from the financial entity is the responsibility of both parties, making them both holders and debtors of the credit.
In the communion of acquired property regime there is not much difference from the previous regime, both become owners of the property and in charge of the loan.
The regime that makes the difference is the separation of property regime. When applying for a home loan, you can choose whether it will be applied for by just one person or by both, sharing assets.
A de facto union requires that both people be registered as owners.
Transfer of financing
If you already have a mortgage in your name when you're single, after you get married the transfer of the mortgage is made immediately, and your partner has to be part of the loan.
If you are both homeowners, the person added to the loan will have to pay the IMT, which covers the part of the house that also belongs to your partner.
In the case of separation of assets, there is no obligation for both of you to become owners of the property; you are free to decide what you prefer to do.
Impact of divorce
Divorce proceedings will take place depending on the type of regime in operation.
If the financing was carried out jointly, there are two possibilities when it comes to divorce:
Either one of the parties takes on the responsibility of f
Impact of divorce
Divorce proceedings will take place depending on the type of regime in operation, normally the couple will share their assets.
If the mortgage was taken out jointly, there are two possibilities in the event of divorce:
- Either one of the parties takes responsibility for keeping the property and pays for it alone;
- Or the property is sold and the amount acquired is shared.
- In the first option, you have to inform the bank and change ownership only for the person who assumes this responsibility. This creates a risk, as the bank analyzes the person's financial capacity to see if they can afford the loan on their own.
Source: supercasa