• Is wife liable to be paid 50% of property cost when the property is under bank loan?

Hello

As per the Indian law if the house is under bank loan, where 90% of principal amount is to be paid post divorce is it compulsory to pay the existing market value from the Husband? 
Secondly, is it possible to pay 50% of the amount which was own self contribution and ensure that she has no right on the property? 
Thirdly, When spouse demands 50% of property cost is she equally liable to share the liabilities which are yet to be paid to the bank? 

If I sell the property and pay her half amount after deducting the bank loan then if I am taking the time to buy a new property so am I liable to pay more maintenance as my in hand liabilities are reduced for a short time like a year or two? 

Need help on understanding the law of succession? How it works? 


Also can I ensure that the property of mine should not be given to kids so my divorced wife can't claim it through the kids?
Asked 4 years ago in Civil Law

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14 Answers

Is the property in single name or joint names

2) if both have availed bank loan both are liable to repay the bank loan

3) consent terms in mutual divorce petition should contain a clause regarding division of property, repayment of bank loan

4) if you sell property ,repay Bank loan split sale proceeds with wife you would have to pay maintenance as per court orders

5) if property is in your name you can sell ,transfer property as you please

Ajay Sethi
Advocate, Mumbai
87947 Answers
6207 Consultations

5.0 on 5.0

1. Wife has no right of share in the property owned by husband in her sole name.

2. If wife has joint owner of the property then only she has right of share and liability as well.

3. If the property pwned by you is your self acquired asset then your children do not have any share in it during your lifetime , much less, your wife.

4. Accordingly you can make Will or transfer your self acquired to anyone you want depriving your wife or the children.

Devajyoti Barman
Advocate, Kolkata
22515 Answers
402 Consultations

5.0 on 5.0

Since wife is 50 per cent owner of the property legally your wife can execute relinquishment deed to relinquish her share in property

2) consent terms can contain a clause that wife relinquishes her share in property

3) if wife is working she should pay the EMI for home loan in proportion to her income

Ajay Sethi
Advocate, Mumbai
87947 Answers
6207 Consultations

5.0 on 5.0

1. If the local law makes her half share holder in the property then not much can be done.

2. The local law is to be referred to check her liability on this account.

Devajyoti Barman
Advocate, Kolkata
22515 Answers
402 Consultations

5.0 on 5.0

1) Till you are alive she is not entitled for house or property which belongs on your name.

2) If is working than also she is not entitled for alimony, only incase she is house wife than entitled for alimony.

3) For children you have to pay monthly maintenance for their expenses.

4) A person leaving behind property without a WILL than to inherit that property all legal heirs name should be appear in the succession certificate and from that movable property can acquire by legal heirs.

Ganesh Kadam
Advocate, Pune
12338 Answers
191 Consultations

4.9 on 5.0

If the wife is owner of 50% as per the law, then you can pray before the court so that your wife(if she is doing job) may also share the liability.

"Is it possible to keep the property in my name by paying the amount I have done for own contribution."- what you want to ask is not clear.

Do you want to mean that you want to keep the property in your name by paying what is equivalent to the 50% of the property? If, yes, Then you can pray before the court, if the court gives you permission then you can do that.

If, no, then what is your question, kindly mention clearly.

Moumita Mitra
Advocate, Kolkata
366 Answers
1 Consultation

4.0 on 5.0

Hi, you have to file a suit for declaration that you are the absolute owner of the property and your wife has no contribution in the property purchased by you. So if you able to prove your funding of the amount to the property and there is no contribution from her end then you will declared as absolute owner.

Pradeep Bharathipura
Advocate, Bangalore
5399 Answers
310 Consultations

4.5 on 5.0

Under Goa Civil Code the wife receives 50 percent share of assets not liabilities from the husband so wife cannot be asked to share the loan as the code is enacted to take care of women when after divorce they can look after themselves.

In most of india there is Civil code and personal laws different from goa under which wife does not have right on property but in case of goa they follow Portuguese law of 1961 which provides them the 50 percent of share of matrimonial property so here after divorce if property is transferred in your name than your wife by order of court without sharing liability shall take half share of your property though in case of this flat you can content before court still in liability so the property can be excluded. I may sound harsh but this law to protect women righrts after divorce in Goa.

Shubham Jhajharia
Advocate, Ahmedabad
25516 Answers
179 Consultations

5.0 on 5.0

Further for law of succession for goa is different than other India and Goa assembly recently passed a Act called The Goa Succession, Special Notaries and

Inventory Proceeding Act, 2012 for people of Goa under which there are two succession available

Section4. Types of Succession.— (1) Succession

may be intestate or legal and testamentary.

(2) Testamentary succession is the

succession which results from a will left by the

estate leaver and a testamentary heir is a heir

instituted by a will. Contractual succession is

illegal, except when expressly authorised by

law.

(3) Intestate succession is either free or

forced. Forced succession is the one which is

reserved by law to the forced heirs and places

restrictions on the freedom of the estate leaver

to dispose of his estate.

Shubham Jhajharia
Advocate, Ahmedabad
25516 Answers
179 Consultations

5.0 on 5.0

To insure that no property goes to your children you can make a will or gift on name of other family member.

Also please kindly step wise discuss your Query as law applicable in goa is different and I can help you step wise with the same with clear facts as of status of divorce and status of property and applicability of acts.

Under Goa Civil Code wife automatically becomes Co-owner of husbands property on marriage it is irrelevant who purchased or paid for it

Shubham Jhajharia
Advocate, Ahmedabad
25516 Answers
179 Consultations

5.0 on 5.0

Hi,

It is also possible that you get her name removed from the loan and have the complete property on your name.

Ganesh Singh
Advocate, New Delhi
6646 Answers
16 Consultations

4.5 on 5.0

If it is self acquired property you are not obligated to give it to children. Yes liabilities bare also shared with rights.

Prashant Nayak
Advocate, Mumbai
27274 Answers
88 Consultations

4.4 on 5.0

/There is no question of paying market value or circle rate value for the share in the property.

It can also be decided about the repayment of loan and sharing of the same

The repayment amount can be divided equally and the same may be deducted from the amount to be compensated to her.

All other related issues can be agreed mutually by talks and discussions before filing the mutual consent divorce.

But of course all these can happen only after drawing all ther terms in a MOU and to be mutually agreed.

The court will not interfere in the mutual agreement on all such issues.

T Kalaiselvan
Advocate, Vellore
78104 Answers
1543 Consultations

5.0 on 5.0

Property is under my name and I am the only one paying for the installments. As this marriage is under Portuguese act in Goa so as per that law the wife is 50% owner of the property.

If the property was bought after your marriage then she may stake a claim in the property as per the prevailing law in Goa in this regard.

Is it possible to keep the property in my name by paying the amount I have done for own contribution.

You can ask her to agree for the compensation in lieu of the share in the property, if she is ok for that then you can proceed.

Secondly what happens in case if husband wants wife to share the liabilities also if she wants a share of assets? Ain't that a rule that she should share the liabilities also??

The asset sharing shall always be after the liabilities are equally calculated and settled.

T Kalaiselvan
Advocate, Vellore
78104 Answers
1543 Consultations

5.0 on 5.0

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