hindu couple married for last 2 yrs. they invested in building a house with a loan taken frm a nationalised bank jointly in their name. the land was brought and the house was constructed there.everything jointly in their name. now due to differences they are seperate. the wife's name is the first name of the loan agreement. now the house has been constructed but is nw locked.the husband is not asking any financial help from wife and he himself is paying the emi amt to bk. now if he files for divorce can the wife claim anyhting frm the house. the pre-emi's and amt to builder was given by her. if not , will there be any legal prob in future because she is the first name inthe loan agreement . pls clarify.
2007-07-01 21:49:49 · 11 answers · asked by Anonymous in Family & Relationships ➔ Marriage & Divorce
What is usually done in such cases is that the property in question is sold at market price, the total loan amount & interest etc is refunded to the bank, the left amount is then distributed between the husband & wife in proportion in which each contributed for the purchase of this property, in such a case you not only get your amount paid from your account but even the profit you made from this property & proportion of amount that was invested by you in this. The other way out is that you both settle this problem by mutual agreement where he pays you all the amount invested by you in the property, get your name deleted from the property records, get your name deleted from the bank loan records, & even give you interest you could have got out of this amount that you invested in getting this property. Then he remains the sole owner of the property as well liable for the bank loan repayment for future. The first option is better then the second as then both are free from the bank loan repayment liabilities & can enjoy the actual amount invested by each in this property as well interest earned on this amount by way of profit they make by selling this property in open market.
2007-07-01 22:24:03 · answer #1 · answered by vijay m Indian Lawyer 7 · 1⤊ 0⤋
The house is both but the one who is first on the agreement or contract has more say in a divorce they will make you sell the house or the other will have to pay the one 1/2 for the house that means they would find out what the total loan amount is and divide it by 2 then that amount would be given to the one that walks away from the house so the other could keep the house
2007-07-01 22:03:03 · answer #2 · answered by rick k 3 · 0⤊ 0⤋
There seems to be something wrong in the information you have furnished in your question.
Are you sure that the land was purchased under joint ownership and the house constructed thereon was jointly registered in the name of husband and wife? Normally land is allotted to a person or a registered society for construction of a building for any purpose. I don't know if land and building laws contrary to that, exist in any part of the country. Similarly, banks offer loans to the owner of a piece of land to build a house thereon. The other spouse might undertake to shoulder the liability under agreement, should the principal loanee default on his/her repayment obligations. Thus, in all possibility, the loan and house ownership are in the name of one of the spouses only. Hence the problem of taking up the liability subsequent to divorce will be resolved after the ownership issue is settled.
2007-07-02 05:42:43 · answer #3 · answered by Modest 6 · 0⤊ 0⤋
Whats the difference of if the letter is written by force or willingly? As long as the Courts of India are eunuchs and spineless they would only hear the woman's story and support weather or not she is a culprit or innocent. When it comes to the family courts the only resort husband and his folks could do is either go underground or on a mass serial killing project, for anyway they are going to get crusified for crimes they have not commited so why not terminate the Roaches of the society that are the causes of the crusifixtion. Men - what ever proofs you have, its of no use in the Indian Family Courts!!!
2016-05-21 01:01:31 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If you make a profit when you sell the house, she is entitled to HALF the profit, less the money you've paid in mortgage payments since you've been separated.
If you sell the house and LOSE money, she's also responsible for repaying half the loss.
2007-07-03 07:12:46 · answer #5 · answered by Roland'sMommy 6 · 0⤊ 0⤋
First or second....does not matter.
When it comes to legal point, you two are 50-50 responsible and will split the profit and/or also.
2007-07-05 12:20:36 · answer #6 · answered by feysunny 4 · 0⤊ 0⤋
You'd be best taking a lawyers advice
2007-07-01 21:59:47 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I think vijays answer is good because he is a lwyer
2007-07-01 22:58:37 · answer #8 · answered by Anonymous · 0⤊ 0⤋
better to join early life than there is not such a problem arises .... try ...best wishes
2007-07-02 18:49:27 · answer #9 · answered by shuvadip d 3 · 0⤊ 0⤋
talk to a good lawyer
2007-07-01 22:05:45 · answer #10 · answered by raindrops 5 · 0⤊ 0⤋