3 options for ex-partners: Divorce: What happens to the house and mortgage?
When couples get divorced, one of the things that needs to be clarified is what happens to the house and the mortgage. What options are available and what needs to be considered.
A married couple getting divorced can consider three options for handling their jointly financed home and mortgage. If one partner takes over the home, they must pay the other partner out, based on the current market value of the property minus the outstanding mortgage, and also consider any claims for equalization of gains. The couple can also sell the property, pay off the mortgage, and split the remaining money, but may have to pay a penalty for early repayment of the mortgage.
Alternatively, they can keep the property and rent it out, but must make clear arrangements for management and finances to avoid disputes.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
