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EU Property Solutions have assisted borrowers in the past who are going through a divorce or separated 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.
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 the property. 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. Both parties, therefore, are joint and severally liable for the debt.
How can EU Property Solutions help?
Given the above, EU Property Solutions require authorisation to act on behalf of both parties named on the mortgage. With the overseas debt being joint and several it is essential to understand the ramifications for all parties involved and that actions were taken by one individual affect the other party.
EU Property Solutions will be impartial throughout, we have one goal which is to minimise your overseas property debt exposure. As clients, although circumstances may be difficult we urge you to both seek amicable solutions.
Accordingly, 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 type of cases, this property could be the last thing tying an estranged couple together, offloading the property and finalising the debt can bring closure.
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.
James Bell – Director