What to do in case of mortgage problems after divorce?

Questioner

After my relationship ended, I continued to live in the house I bought. In our agreement, we stated that I would take on all the costs (mortgage and life and risk insurance). My ex is now only theoretically on the mortgage. All other matters are mine and that is going well. Unfortunately, the house is far underwater with an estimated residual debt of €60,000 and I still cannot officially remove my ex from the mortgage. My current partner is self-employed and has no way of buying out my ex. My salary is also insufficient. I have a cohabitation agreement and will with my current partner in which all assets and liabilities are transferred to her upon my death. In our view, this is all we can do at the moment to protect my ex. But she now wants a notarial agreement that in the event of mortgage payment problems, the bank can never come to her but she can still recover this from us. Is this possible? And what are our options?

Lawyer

Your idea that your ex-partner is only theoretically on the mortgage deed is incorrect. She is now - just like you - still personally liable (100%) for the entire debt. (apart from the fact that she probably owns 50% of the house). Whatever you agreed upon in the covenant, those agreements did not work in the legal relationship between you and the mortgage provider. So your ex-partner is right, despite the agreement she is still liable for the full repayment of the mortgage loan. The mortgage loan continues to hang over her head like the sword of Damocles. If something happens to you, the mortgage provider will definitely come knocking on her door. As for the notarial agreement, your ex-partner is wrong, this is not possible. If the mortgage provider does not cooperate, the only solution left is to sell the house and accept the residual debt. If nothing is arranged about this in the agreement, you will both be jointly and severally liable for this residual debt. If your ex-partner actually wants to sell, you cannot stop this.

Questioner

Thank you very much for your response!