Bank loan and divorce ?

[steph83]

Hi, i'm from Belgium and married to a Thai woman. My wife would like to buy a house where we will live with our kids. I will help her by paying 50 % of the amount. To finance the other 50 %, she wants to take out a bank loan. What could happen in case of divorce. Does she have to repay alone the loan ?

 

Thanks for your help

[CharlieH]

If I understand this correctly, you pay 50% that is then HERS as is the property, if she finances the other 50% from the bank, divorced or not it has nothing to do with you.Its soley hers and her responsibility.

Divorced or not she has to pay the bank as it will be in her name.

[steph83]

3 hours ago, CharlieH said:

If I understand this correctly, you pay 50% that is then HERS as is the property, if she finances the other 50% from the bank, divorced or not it has nothing to do with you.Its soley hers and her responsibility.

Divorced or not she has to pay the bank as it will be in her name.

Thanks Charlie, i know about the house, i was just worry in case i have to help to pay back the loan too...

[Liverpool Lou]

4 hours ago, CharlieH said:

If I understand this correctly, you pay 50% that is then HERS as is the property, if she finances the other 50% from the bank, divorced or not it has nothing to do with you.Its soley hers and her responsibility.

Divorced or not she has to pay the bank as it will be in her name.

I believe that under Thai law, the indebtedness would be hers solely only if he had no benefit from the debt, regardless if it was taken out in her sole name.  If he lived in the property, married to her (obviously) as his home, he would have benefitted from his wife's loan and would, therefore, incur liability for it's repayment, also.

[Liverpool Lou]

21 minutes ago, steph83 said:

Thanks Charlie, i know about the house, i was just worry in case i have to help to pay back the loan too...

...and so you should if you're living in the property as your home and you're married to the debtor who took out the loan for the family's home.

[steph83]

12 hours ago, Liverpool Lou said:

...and so you should if you're living in the property as your home and you're married to the debtor who took out the loan for the family's home.

I don't understand what do you mean. I talked about the case we divorced only.

[FritsSikkink]

13 hours ago, steph83 said:

Thanks Charlie, i know about the house, i was just worry in case i have to help to pay back the loan too...

Does your wife have any income, so the bank would give her a loan? If not, it is very likely the bank wants you to cosign for the loan.

[FritsSikkink]

17 hours ago, CharlieH said:

If I understand this correctly, you pay 50% that is then HERS as is the property, if she finances the other 50% from the bank, divorced or not it has nothing to do with you.Its soley hers and her responsibility.

Divorced or not she has to pay the bank as it will be in her name.

It isn't that clear cut: Thailand Divorce| Thailand Divorce Lawyer| Thai Divorce Law (thailand-family-law-center.com)

[Liverpool Lou]

37 minutes ago, steph83 said:

13 hours ago, Liverpool Lou said:

...and so you should if you're living in the property as your home and you're married to the debtor who took out the loan for the family's home.

I don't understand what do you mean. I talked about the case we divorced only.

"I talked about the case we divorced only".

Huh?  I don't understand that "sentence" which makes no sense.

 

"I don't understand what do you mean".

Huh?  I do not understand what it is that you say don't understand.

[BritManToo]

20 hours ago, steph83 said:

Hi, i'm from Belgium and married to a Thai woman. My wife would like to buy a house where we will live with our kids. I will help her by paying 50 % of the amount. To finance the other 50 %, she wants to take out a bank loan. What could happen in case of divorce. Does she have to repay alone the loan ?

 

Thanks for your help

Better off she gets a 90% loan and you just give her the 10% deposit.

Then you've got 40% left in your hand to help make the repayments, if she stays with you.

[JayClay]

22 hours ago, BritManToo said:

Better off she gets a 90% loan and you just give her the 10% deposit.

Then you've got 40% left in your hand to help make the repayments, if she stays with you.

 

I've never understood why more people don't do this when they want to buy their partner a property. It seems to me the safest way to be a provider without risking too much money up front. Especially if you were renting anyway before buying; you're essentially just re-chanelling the same money that you were already spending with somebody else (landlord) anyway.

[KhunLA]

Once again, if people need to ask these kinds of questions ...

... strongly suggest you rent