Loan status post divorce
Manish Sinha
(Querist) 24 July 2013
This query is : Resolved
Good evening experts,
I have an under construction property at Noida expressway,for which a home loan is running with HDFC, I am paying the pre-EMIs. This is a joint loan with my wife,and she is the secondary borrower.
We have divorced in 2012, however, no changes were made in the the loan status, it still runs joint... Though I am the primary borrower, is selling the flat require her presence also, or are there other options available. In my divorce decree, she has relinquished her rights. please advise
Manish Sinha
(Querist) 24 July 2013
Thanks for your time.
The property is not yet registered since its under construction.
I have paid 95% to the builder and I am the primary borrower with my ex-spouse being the co-borrower.
Though I am the primary borrower, is selling the flat require her presence also, or are there other options available.
Thanks again
Manish Sinha
(Querist) 24 July 2013
Cant I simply pay the bank back, clear all outstanding loan and then sell it off. please advise.
Dr. Jyothi Vishwanath
(Expert) 24 July 2013
First you register it in your name. Later you can do as you said.
Rajendra K Goyal
(Expert) 25 July 2013
What is the position of agreement of the flat under construction. Whether it was in the name of both or only in your name. If in joint name and your ex has relinquished her rights,whether Agreement has changed in your name or not, Or the builder would be ready to get the property registered in your name only.
In case the builder do not owner the relinquishment(In what form not clear whether registered or not) of your ex,property is in joint name, while selling the property at any time signatures of your ex would be needed.
Manish Sinha
(Querist) 25 July 2013
The flat was in Joint name, however, post divorce, the builder has changed the rights to my name, I paid 5000/- against Admin charges for it.
Raj Kumar Makkad
(Expert) 26 July 2013
Unless the property stands registered in your name, your ex. spouse is equally owner to that property so immediately go ahead otherwise you shall invite problem for you.
Raj Kumar Makkad
(Expert) 26 July 2013
Co-borrower and co-applicant are two different aspects. Your ex. may be co-borrower but he/she is also a party to the agreement or not is to be considered for the ownership of the property.
