Dealing with divorce and a shared property debt in Spain

Divorce and overseas property debt

EU Property Solutions have assisted borrowers in the past who are divorced or separated to settle their overseas debt in an amicable fashion. We understand it is a difficult and emotional time for all involved, nonetheless, civility and working together can bring excellent results.

The problem

A common occurrence in these types of cases is that during the divorce, one party was to take control of the overseas property, with the other individual waiving their rights to it. However, if the correct processes are not undertaken in the country where the property is located, then it is likely both parties will still be named on the mortgage. Therefore, both parties are joint and severally liable for the debt.

How can EU Property Solutions help?

Considering the above, if EU Property Solutions are to assist we require authorisation to act on behalf of both parties named on the mortgage. No matter how acrimonious the separation this is essential. You cannot act for one individual given the debt is joint and several.

With the overseas debt being joint and several it is essential to understand the ramifications for all parties involved and that actions taken by one individual affect the other party and unfortunately, we have seen in acrimonious divorces some parties make poor decisions knowingly as they will have an adverse effect on an ex-partner.

EU Property Solutions are working numerous cases with divorced or separated couples who require to settle their overseas debt in an amicable fashion. EU Property Solutions understand this can be a difficult and emotional time for all involved, nonetheless civility and working together can bring excellent results.

What can you do?

If as a divorced/separated couple you are willing to work amicably then EU Property Solutions can finalise your overseas property debt. It is important to see the bigger picture in these types of cases. This property could be the last thing tying an estranged couple together, therefore offloading it and finalising the debt can bring closure.

Contact us

As with all our cases, we require relevant documentation and full transparency of current financial circumstances to quote and to proceed forward with the case with confidence.

Should you have a European Property Debt owed jointly with a former partner and wish to know your options please call EU Property Solutions today on +44 (0) 330 124 1230.

Read some of our case studies here or check out our brochure here.

* This article has been written by a third party not owned or controlled by Spanish Property Insight (SPI).
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