The assets (for example a house) acquired during the marital union are joint assets that must be divided once you divorce. But if the house was mortgaged, you might wonder what happens to my spousal mortgage credit when I get divorced?
As part of a partnership company, each spouse is responsible for the debts that were acquired during the marriage. And after the divorce, who is responsible for paying the debts?
2 things can happen when there is a mortgage and you get divorced:
In both cases, once the divorce is established, the principle to be applied is that the assets and debts be distributed proportionally between each spouse, so that each one disposes to pay the latter with part of the assets of the conjugal partnership.
There are two possibilities if the amount of the goods received by each of the spouses is not enough to pay off the amount of the debt assigned to each one:
Therefore, if you mortgaged your home and you plan to divorce, in the face of the question of what happens to my spousal mortgage credit when divorcing me, it is convenient that you make the balance of assets and debts to see if your particular estate will be affected.