Thaibelg Posted April 7, 2014 Share Posted April 7, 2014 Hi Folks, My wife wants to get a loan with the bank, which she will pay off herself for buying a house/land. Which will ofcourse not belong to me. What would happen in case of a divorce? Am I equally eligable to pay off the debt of my wife, eventough the house is not in my name and can never belong to a foreigner? We did not made a prenuptial agreement... What about debt on credit cards after divorce? Thanks for letting me know. TB Link to comment Share on other sites More sharing options...
ezzra Posted April 10, 2014 Share Posted April 10, 2014 If the loan and house ownership papers are all under her name without mentioning your name, than she's the sole person responsible for the debt, just make sure you don't sign as a guarantor or witness or anything... Link to comment Share on other sites More sharing options...
SDM0712 Posted April 10, 2014 Share Posted April 10, 2014 As Ezzra says don't sign anything. It is quite possible that if the bank find out that you are married and thus assume you are paying part of the mortgage they will want you to guarantee it. In terms of mortgages they are becoming very difficult to get in any case, even for Thais SDM 1 Link to comment Share on other sites More sharing options...
Dancealot Posted April 10, 2014 Share Posted April 10, 2014 When I was married, this fist rule always lingered in my mind: All assets/debts aquired during marriage will be equally divided upon divorce. Maybe the laws changed. Just one advice is: be aware! 2 Link to comment Share on other sites More sharing options...
slipperylobster Posted April 10, 2014 Share Posted April 10, 2014 A loan to pay it off? It was her house to start with from a previous marriage? Why would you want to do that? Help her out on her monthly mortgage payments...as long as you are allowed in the house. You may find yourself missing from the equation after she gets approved for the loan. Or the house sold and you holding a credit liability Link to comment Share on other sites More sharing options...
Krataiboy Posted April 10, 2014 Share Posted April 10, 2014 Under Thai law, as I understand it, both spouses are responsible for one another's debt. If your wife reneged on payments, you would be liable. Once divorced, your liability for any previous debts incurred by your ex-wife would end. Worth checking with a lawyer - plenty of them give free advice, including one firm on this website. Link to comment Share on other sites More sharing options...
AjarnMartin Posted April 10, 2014 Share Posted April 10, 2014 Under Thai law, as I understand it, both spouses are responsible for one another's debt. If your wife reneged on payments, you would be liable. Once divorced, your liability for any previous debts incurred by your ex-wife would end. Worth checking with a lawyer - plenty of them give free advice, including one firm on this website. Krataiboy - of course you're right to suggest professional opinion but the "free" service here reflects, like other things in Thailand, "you get what you pay for". The legal responses to TV questions is cursory at best, incomplete and erroneous on occasion. Buyer beware! Link to comment Share on other sites More sharing options...
belg Posted April 10, 2014 Share Posted April 10, 2014 you can always go back to belgium, in case of a divorce she can be declared bankrupt and give the house back to... THE BANK who owns it anyway till your last payment is done why dont you buy a condo in your name ? Link to comment Share on other sites More sharing options...
riceyummm Posted April 10, 2014 Share Posted April 10, 2014 When I was married, this fist rule always lingered in my mind: All assets/debts aquired during marriage will be equally divided upon divorce. Maybe the laws changed. Just one advice is: be aware! Freudian slip there DL? Although "fist rule" reminds me of my first divorce.......and it wasn't MY fist. Link to comment Share on other sites More sharing options...
ggt Posted April 10, 2014 Share Posted April 10, 2014 Wasn't this originally posted on 4-06-2014...are we doing re-runs now? Link to comment Share on other sites More sharing options...
bristolgeoff Posted April 10, 2014 Share Posted April 10, 2014 good advice check with a lawyer if you do divorce you are not involved in the loan.pay something towards the loan as rent to live there.maybe have it written down somewhere as well Link to comment Share on other sites More sharing options...
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