Australia's #1 for Law

Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!

ACT Property Settlement - What Happens if Ex Doesn't Refinance Property?

Discussion in 'Family Law Forum' started by Joey, 1 November 2015.

  1. Joey

    Joey Member

    Joined:
    1 November 2015
    Messages:
    1
    Likes Received:
    0
    Once I have sealed court orders for our property settlement, what happens if my ex doesn't refinance his property within the timeframe? Am I still liable for the debt after the nominated days in the orders? Or can I stop paying even if the mortgage is still in joint names?

    Thank you!
     
  2. Sophea

    Sophea Well-Known Member

    Joined:
    16 April 2014
    Messages:
    2,400
    Likes Received:
    369
    Since the bank or lender is the innocent party here they are entitled to be paid their due under the loan contract until such time as the obligations of you and your ex are changed - by him refinancing the loan in his own name. So, yes, you continue to be liable to pay the loan to the bank. However, you are jointly liable for the loan, therefore if you don't pay your share it simply falls on your ex to pay it.

    If you did pay more than you needed to on the loan due to his delay in obtaining finance you could likely go back to the court and get compensation for what you paid over and above, however, this would take time and money. Therefore, if you take it into your own hands, whilst not strictly "legal" or the appropriate way to do things, you could simply stop paying the loan and leave it up to your ex since he is responsible for the loan after the date stated in the court orders.
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
Loading...

Share This Page

Loading...
gt;