Equal Mortgage Split for Divorced Couples in Spain
April 25th, 2011
In a groundbreaking ruling for Spain, the Supreme Court has decided that in the event of divorce, a home mortgage must be repaid in equal shares by both spouses.
The decision favors Javier M.D., a divorcé who was told by the Provincial Court of Valencia that he had to put up 80 percent of the repayment due to his economic situation. That court considered the mortgage part of his alimony payment.
The Supreme Court recognized that there was contradictory jurisprudence on the subject at the provincial level, and decided to set a legal precedent by establishing that payments on a loan entered into by both spouses fall under the joint responsibilities of the community property regime, which makes both parties equally bound regardless of income according to elpais.com
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