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Should I let the bank take our house?

Dec 08 2008 14:06

A Fin24.com user writes:

I am in the process of a messy divorce. I have moved out of the house, but my ex-husband has occupied it, refused me access and, more importantly, has refused to pay his 50% share.

We are now two months in arrears and he will not let me or an estate agent in to sell the house.

I have resigned myself that I am throwing good money after bad and need to get the bank to repossess the house. What are the legal/financial implications for myself if I do this?

Roy Bregman of Bregmans Attorneys responds:

I assume that your former husband and you are not married and that you are co-owners owners of the property and have bound yourselves jointly to the bank. You have both probably also chosen the house address as the address for service of all process.

If you simply walk away from the problem, the bank will sue both of you by serving the summons at the house and will take judgment against you, jointly.

After that, they will sell the property in execution and in the highly likely event (given the state of the property market at the moment) that they realise less on auction then you owe on the bond, the bank will proceed further against the two of you for any shortfall.

You would be better advised to consult an attorney to protect your interests.

Bregmans Attorneys in Killarney, Johannesburg can be contacted at (011) 646 0335 or www.roylaw.co.za.

- Fin24.com

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JHK
Feb 09 2009 07:52 Report this comment

The law does not give any protection to either party. I have been in this situation where my ex has for 11 years refused to co-sign the documents to sell the house we co-own, even i settled the bond. I have recently spent R200,000.00 to revamp the place and it is now on lease to a paying tenant. All the funds are deposited into an investment account until I have recovered all my expenses for the past 11 years. She can share thereafter.....but only once all monthly expenses have been deducted!

Divorced Man
Dec 29 2008 07:39 Report this comment

To add some perspective to this slagging on men debate from the ladies. My ex-wife did the same thing. Moved out. Refused to pay her half of the bond it was in both our names) and was sleeping with my now ex-best friend. Took my daughter as well and refused me access to her for almost 6 months. Cheek of her to demand half the proceeds when the house after she hadnt paid a cent to the bond leaving me to live eating soup and bread. And no I didnt cause the Div..she slept around.

AJ
Dec 23 2008 06:39 Report this comment

Why, I am really blown away by the high standard of comments placed on this article. I did not even rwalise it was even possible to so totally miss the point of a forum facility but you 'guys' managed it with aplomb!

Good for the goose
Dec 16 2008 11:45 Report this comment

usually if the woman moves out she is up to no good - why should - guy now have to sell up and move - if the roles were reversed the poor guy would keep her in the 'lifestyle she has become accustomed to...shame'. My advice - no advice.

Annette
Dec 12 2008 08:54 Report this comment

really "fairness" what a judgmental attitude!! You sound like you have hangups about the s-word. My husband did exactly the same thing to me - except that the house was registered in my name so I was liable for the bond - he simply refused to pay for year forcing me to auction which then he tried to stop - forcing me again to expensive litigation - my advice is - the bond is registered to a person who then becomes liable regardless of the circumstances - one or both of you are liable - settle it


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