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Question
Posted by: Amy | 2010-08-26

Bond on property

Dear Bertus

My divorce was finalised earlier this month. I am still awaiting divorce decree. The house that we lived in was my ex-husbands which he inherited from his parents. We were married in COP.
A bond was taken on the property and because we were married in COP I had to sign bond docs. The bond still exists. What do I do so that should this fall into arrears I am not liable for the debt.

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Our expert says:
Expert ImageFamily law expert

It is important to know exactly what the divorce decree says. It follows from a divorce of a marriage COP that the court will grant a division of the estate. This means that each part is entitled to 1/2 of the assets. An inheritance is normally excluded from the common property and will thus not fall within the estate. Because you are liable in terms of the bond I suggest that you immediately approach the bank to release and substitute you from any liability.

Bertus Preller
www.divorceattorney.co.za

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Our users say:
Posted by: family law expert | 2010-08-28

It is important to know exactly what the divorce decree says. It follows from a divorce of a marriage COP that the court will grant a division of the estate. This means that each part is entitled to 1/2 of the assets. An inheritance is normally excluded from the common property and will thus not fall within the estate. Because you are liable in terms of the bond I suggest that you immediately approach the bank to release and substitute you from any liability.

Bertus Preller
www.divorceattorney.co.za

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