Here is how Property gets Divide after Divorce
Mar 28, 2019 Real Estate News
According to the current Hindu Marriage Act, the women do not have any claim on her husband’s property after they get divorced. She can claim for monthly maintenance, but that’s it. The claim on ancestral property is out of the question. So what can a woman do under such condition?
Not all marriage end up being a happy marriage. Some end up in divorce due to irrevocable differences that cannot be overlooked. In 2010, the UPA government passed an amendment that protected the rights of women in case of divorce. But the amendment fell through when the government was overthrown.
Now the question arises, what are the rights of women in case of divorce? We discuss them in detail:
In this case, the court will carefully observe the contribution each of them has made and divide the property based on it.
Keep these in mind:
Not all marriage end up being a happy marriage. Some end up in divorce due to irrevocable differences that cannot be overlooked. In 2010, the UPA government passed an amendment that protected the rights of women in case of divorce. But the amendment fell through when the government was overthrown.
Now the question arises, what are the rights of women in case of divorce? We discuss them in detail:
Owner of the property
The court still sees the owner of the property as the name mentioned on the deed. If the women have made a monetary contribution to the property purchase, then she will have to prove the same. The EMI and financial contribution made for the purchase can be easily proved with the bank statement.In this case, the court will carefully observe the contribution each of them has made and divide the property based on it.
Bought on loan
If both husband and wife are the co- applicant for the home loan and are co- owners as well. Then they can sell the property and settle the loan amount. Or one can change the home loan amount to their name and continue paying for the same while buying out other party’s share. The banks or the loan lender will look into the matter carefully before allowing the loan to be moved to one person’s name. They will assess eligibility and repayment capability.Keep these in mind:
- Treat your property division after divorce as businesslike as it can be. It is not unknown that property buying affects us all emotionally as well. Make sure everything is crystal clear in the sales deed at the time of buying the property. Your share and hold on the property are the same.
- Out of court settlement is a good idea. The hassle of going to court and fighting over the property and the share on it can be stressful and draining. It is better to sort it out amicably out of court.
- Pay the EMIs even after you have decided to part ways. If you default on your payments, there are chances that the property might slip from your hands.
- When you buy the property, most people register it under the wife’s name, as it costs them less stamp duty. Make sure your share on the property is also clearly mentioned.
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