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Question
Posted by: Lee | 2013/02/19

Joint Property

My husband (customary) and i bought a house last year jointly  im paying the bond and levies. Should either of us move out what happens i.e. should i move out do i still have to pay the bond or we pay half half? If he moves out does he also have to pay his half even though he''s not staying there? Say one of us decides to keep the house does he/she have to buy the other person out? I know the best option might be seling but selling a house takes long i need to know what happens whilest we still waiting for the house to be sold.

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Posted by: Lee | 2013/02/19

If the rent doesnt cover extra costs you may have to chip in, equally though, towards other costs but it will be less than a full bond repayment. its not a good idea to sell so soon whatever the reasons may be . . . wait a bit and see what your options are and dont think with your heart.

whatever you do . . if youre divorcing dont leave hubby in the house . . you cannot trust him to keep up with payments and it will be your credibility as well that goes down the drain should he decide to be spitefull and stop paying . . rather have tenants . . could be short time while the house in on the market or long term . . . until theres more value to the property.

Reply to Lee
Posted by: Lee | 2013/02/19

Thanks Skye, if we rent out the house the house still belongs to both of us and we both responsible for extra costs e.g. if the rent doesnt cover the cost or rates and levies?

@T thats a story for another day. I would love to keep the house, we got it at a bargain and the yard is so huge there''s so much one can do with it but i will struggle with other things.

Reply to Lee
Posted by: T | 2013/02/19

Gal, why are u paying for a house and levies at the same time? what is your husband doing??

Sell the house and start afresh or if u are the main buyer and your hubby is a co BUYER15p, u can keep the house, u have been paying for it.

Reply to T
Posted by: Skye | 2013/02/19

The one who decides to stay must pay for full costs (bond, levies, garden, pool etc).If the other party wants to keep the property then that one should approach the bank for more finance (full bond) and buy the other out.

Better yet, both move out and rent out the house, tenants pay and none on you will have to pay a cent, that is if the rent is enough to cover all costs. find a good agent and sell after 3 years when there is at least a bit more value to the house so that you can both make something from the sale.

R you two going your separate ways?

Reply to Skye

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