Selling property jointly help by wife and me

Question

Selling property jointly help by wife and me

29-Jan-2023 (In Family Law)

Me and my wife purchased a flat where her contribution is 10%. We have filed for divorce mutually. We both agreed to sell off the flat and I will pay her her invested amount in full and bear any losses myself. But she is suddenly stating she won't sell it and is now saying she will only sell after divorce. I pay the entre emi while she is the first holder and I am the second holder. Can I cite divorce and tell bank to declare the property as NPA so that I don't lose any more money on emis. Can I file a case or what are my options..

Answers (2)

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Advocate Bakul S Panchal LawRato · Accepted Answer · 2022-01-29T19:41:33+05:30

Answer #1

it's good case but here no more details of your mm metrimonial case details so you can share me your entire case details which is continuing is in court if I have sufficient details of your Beck ground thefore I will give you properly advice

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LawRato LawRato · Accepted Answer · 2022-02-01T23:20:12+05:30

Firstly, we need to look into whether it was mutually decided by you and your wife the sharing ratios of the EMI's. Secondly, there are many ways to look into it and of course if you default in payment which is a genuine case then they will proceed to take over the position of the property as per the terms and conditions of the mortgaged agreement. Thirdly, I am of the view that banks are least concerned about your matrimonial status and they shall function only as per the mutually decided terms and conditions in the mortgage agreement. Also, the issue of repayment of loan on the house can be decided in the mutual consent petition itself and thereafter a decree can be sought and ultimately there can be an amendment in the mortgage agreement if the bank is desirous for the same. However, the wife needs to agree for such an arrangement. Let me know if you want to proceed further you can visit my office and we can take it forward.