Hi.i and my wife have purchased property on loan from bank on coownership as names of both husband and wife.i wish to remove my wifes name from that property as we are likely to get divorced.what are legalities?property loan is still not paid but just started to pay.we both are doctors.am i liable to pay her half amount to get her name remived?

Question

Hi.i and my wife have purchased property on loan from bank on coownership as names of both husband and wife.i wish to remove my wifes name from that property as we are likely to get divorced.what are legalities?property loan is still not paid but just started to pay.we both are doctors.am i liable to pay her half amount to get her name removed?

PAWAN HARSHADBHAI SHAH 1 Answer 75 views
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Answer ( 1 )

  1. instalegal
    0
    2023-07-07T17:03:41+05:30
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    The loan is being paid by you?? or any amount has been contributed by her?
    If you are able to pay the value of the property, you can propose to her in the scenario that she has paid 50
    percent of the value of the property. If you are getting a mutual divorce, this can be amicably discussed and agreed upon between the parties regarding permanent alimony and the payment of money in lieu of releasing her share in your favour.

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