Sometimes it is said that loans tend to be more durable than marriages. In the case of divorce or separation, the question arises how to settle joint financial obligations, and in particular who (and how!) should pay the loan after divorce.
Taking over a house by one spouse does not mean that only he/she will be automatically obliged to repay the indebtedness to the bank.
Most often, the parties to a loan agreement are both spouses who are jointly and severally liable towards the bank. The agreement regarding the method of repayment of the loan, concluded only between the spouses, will not be effective against the bank.
One of the solutions may be taking over the entire debt by one of the former partners. However, this involves the need to obtain the bank’s consent.
From a legal point of view, it is also possible to join a contract by a family member or a new partner.
Nevertheless, it should be remembered that each of the solutions indicated is most often associated with the re-running of the loan granting procedure and the examination of creditworthiness.