There is a practice when, during a divorce, the spouses divide between themselves the acquired property. Someone cope on their own, and someone has to resort to the help of lawyers and judges. With proper registration, some loans can also acquire joint status. In the article we will look at a hypothetical situation: a man borrowed money from a bank for a magnificent wedding, the family did not last long, followed by a divorce. We will understand who will pay the loan, and can it be divided between the spouses?
General terms and conditions of the loan section
It is important to remember that people work in the bank and in court. In similar cases, completely different decisions can be made on the basis of different interpretations of laws and regulations. The result will depend on a variety of input parameters. Even if the Supreme Court has an unequivocal definition, the differences still remain.
The mere condition of a transaction at the bank during the period of the marriage is not a guarantee that the debt will be recognized as common. For the distribution of obligations it is necessary that the loan was :
- taken in the interests of the couple and on a common initiative;
- used for the needs of the family.
The confirmation of these facts is required to deal with those who are interested in the section of debt. Collect evidence in advance, even before contacting a bank or a lawyer. After many years, such measures will no longer be relevant. Also here the rule of three years works , that is, the limitation period applies .
An example of a post-loan section after a divorce
Credit obligation taken by a citizen before marriage, applies only to him . The bank makes a decision to issue money based on the solvency of the particular applicant. The financial condition of the future wife in this case does not matter. Only if she becomes a guarantor or co-borrower, but let’s talk about this a bit later.
Given: for the organization of a magnificent wedding celebration, a young couple took a certain amount of money from the bank. Since the official place of work was only the groom, the contract is drawn up on him. The term of the transaction is 5 years. After 2 years, the new family fell apart, the husband was left with not only the memories, but also 3 years of payments on open debts. He went to court to divide the remaining financial obligation in half between him and his ex-wife. The lawsuit was rejected on the grounds that the transaction was finalized before the marriage, and it must be answered by the person indicated in the documents.
What to do: if a person wants to divide the debt after a divorce, he should note his future spouse in a contract with the bank as a co-borrower or guarantor . In the first case, both citizens (co-borrowers) are fully or partially responsible for the transaction. A financial institution can recover the entire amount from any of them, and the latter will already require half of it from his former spouse. In the case when one of the defendants is listed as a guarantor, he is entitled to ask the second to return the full amount to him if he paid off the debt for him. The guarantor is liable to the bank only when the main borrower does not pay. If the debt is fully repaid by the borrowing husband, then it is impossible to demand half of the funds from the guarantor’s wife.
What to fear: the situation in question may turn into an even bigger problem for the husband, who managed to get a loan before the wedding . If the pre-wedding debt was redeemed from the common money during the joint life, then the ex-wife has the right to apply for the division of property and demand the return of part of these expenses to her . It does not even matter what the money was spent on – for family or personal needs. If the wife paid for someone else’s contract, drawn up before the wedding, she can request a refund of half the amount.
Tips for bank debtors
Forewarned is forearmed. What you need to do to safely get out of a sensitive financial problem :
- Keep all checks and receipts when spending borrowed money. This is your evidence base.
- Try to set up contact with the bank before the trial. They will help you choose the right solution and immediately say what you should not hope for.
- Do not neglect legal advice. For an ordinary citizen, in conversation with a professional, many nuances will open that he did not know about before.
Preventive measures include the conclusion of a marriage contract, as well as a ban on transactions with jointly acquired property. Execute all documents so as not to regret in case of divorce. Although it seems strange when you are in the pre-wedding euphoria. We hope that information about the section of loans will be useful to you only in theory!