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Planning for divorce but concerned about Joint Property's predicament.

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asked on Dec 22, 2017 at 15:19
by   Cescftv234
edited on Dec 31, 2017 at 02:13
 
I'm asking on behalf of another person.

Details as below:

Couple decides to divorce. They have a Terrace House under both names in S&P. The house loan is under the wife's name only. Husband requested Wife to pay back deposit for the property  and he is willing to transfer the title to wife. This is because husband never serviced the loan besides paying for the deposit, but he had paid for other expenses and bills.

The Wife says she cannot afford it, and asks husband to sign the divorce letter, once the property is sold she will pay him back.

Questions:
1) Is the Husband in risk of losing anything if they proceed with the divorce first?
2) Do they need to state down in an agreement that only the deposit will be paid back to husband?
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1 Answers

answered on Dec 22, 2017 at 15:51
by   jeff005
In any divorce make everything  clearcut.

once the property is sold she will pay him back. 
There are both possible gains and  losses.
What if she do not sell and continue live in it for the next 20 years?
Sue her in a Civil Court years after the divorce? The lawyers fees will kill both of them.

Pay and sign the Divorce papers at the same time.

A Matrimonial Agreement can also terminate, so what less is an I.O.U????

his is because husband never serviced the loan besides paying for the deposit, but he had paid for other expenses and bills. 
Isn't a family joint assets and living expenses?
Sell the house and take 50% whichever is greater..!! He is entitled to it..!!
No divorce is amicable..!!
I learned things the very very hard way
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