After the separation: what will become of the house or condo?

A separation of a couple always means a change. Also spatially, because the apartment, which was previously the common retreat, often becomes a burden as soon as the separation is announced. This is especially true if the former “share house” is owner-occupied property.

What will happen to the shared apartment after the separation?

Karen*, 32, kept her shared apartment after breaking up with her boyfriend. But she doesn’t really like living in her apartment anymore.

So now it’s gone. I sit dreamily on the floor and listen to the click of the front door in the stairwell below. So now our shared apartment is mine.

My boyfriend and I broke up three months ago. Joshua and I, trite as it sounds, had drifted apart after eight years of dating: he played handball three nights a week while I sat alone on the couch. When he went out with my girls, he never came and for a long time we preferred to go on vacations together with other couples to have less alone time and more distraction.

When we parted ways, we verbally agreed that I could stay in our shared apartment and keep it because I had discovered it back then, here on the outskirts of Munich. If I hadn’t put so much pressure on the broker at the time and raised our joint “upper limit” by another €50,000 (the broker told us that there were three other interested parties who were willing to pay the purchase price), we would never have been accepted to receive . Such an apartment in an old building with stucco, high white walls and a small garden in front has not been on the market for a long time.

Uwe Restaurant

Property valuation – that’s what the expert says

It is essential to know the exact value of the property. You have to know what value is involved when negotiating the future course of action with common property.

This lays the foundation for a fair division of assets and provides clarity on the value of the home. A real estate appraisal, conducted by a competent real estate agent, lists all the factors of a home’s value from an objective perspective. As a general rule, a short report is sufficient for this. A full and more detailed market value appraisal can also be commissioned if required.

Uwe Restaurant is Director of Private Real Estate at Rohrer Immobilien GmbH
(Contact: 089 – 543 04-154 | [email protected])

At the time, Joshua said that it was perfectly fine for him to let me live in him, not without adding a little push afterwards, because our time together wasn’t so nice in the end that he looks wanted every day now. to be remembered. So everything was settled peacefully: I would pay him off and take over Joshua’s 50 percent of the land registry and loan agreement. My parents had advanced part of his estate to me for the loan, so I didn’t find the prospect of paying Joshua’s share too onerous in the future.

Then suddenly the transformation came. Joshua resented the split, although we actually parted amicably. He kept sarcastically commenting on what he was doing and then began to distrust me. I must admit, I had someone else, he said, otherwise I would not have had the courage to part.

Suddenly our separation agreements no longer count.

Suddenly my ex-boyfriend didn’t seem to remember anything we had discussed before and there didn’t seem to be any payment.

“Then you can pay for my paint job, drywall, and kitchen at the same time,” he said and made some completely crazy calculations in which he calculated his work at 100 euros an hour. I was at my wits end. In the evenings when he came home from work, he would now do anything to annoy me, bring friends over and play the music loud when he knew I was going to sleep, or ignore me completely.

A few weeks later I received a letter from his parents asking for proof of deposit. If all of this hadn’t been so stressful, I’d actually be the last kindergarten to argue like this after eight years. I just threw the letter away and ignored it. In the evening I waited for Joshua, who once again came home very late and noisily.

Uwe Restaurant

Who continues to pay the loan? – That’s what the expert says.

In most cases, existing credit and financing arrangements with a bank will continue for many years. A credit agreement remains in force regardless of marital status. Both spouses usually sign the loan agreement, and both are responsible for repaying the loan. In terms of liability, it is also irrelevant who is registered in the land registry. Only the signatures on the loan contract count.

If the spouses agree that one will continue to live in the property and the other will move out (assignment of exclusive use), the bank will use the spouse who remains in the property for the repayment of the loan. In the event of a divorce, always check ahead of time what can be expected of you.

Rohrer Immobilien has been an owner-managed real estate company in Munich for over 100 years. Contact: Uwe RestaurantHead of Private Real Estate
(Tel. 089 – 543 04-154 | [email protected])

“Joshua, we need to talk for a minute”, I said. It was the first time we had spoken in weeks; In the end we just ignore each other.

“I can not do this anymore”I said, “And if you don’t want to be paid anymore and you want to keep the apartment, we can also do it the other way around: you pay me and you keep the apartment.”

“I don’t want the shitty apartment at all”Joshua began to rant.

“Then go finally”I said, “Then I want you to find an apartment and leave me alone. I can’t do this anymore. Everything is completely toxic: the whole life situation, how we treat each other and what has become of us.” I was incredibly angry and helpless at the time.

Joshua looked at me wearily and at that moment he looked a little familiar again. “I’m looking for an apartment”he said after a long pause and nodded.

Almost a year ago today my apartment now belongs only to me. It was a struggle to keep this apartment. It’s worth it? When I think of all the work I’ve put into the apartment, the paint in the kitchen, it’s lilac and immediately cheers you up as soon as you walk in, the doors we’ve sanded down and all the holes we’ve patched up. – In this Apartment trapped so much time and emotional memories. My birthday party when I turned 30, which was also like a housewarming party, every night we sat in the kitchen and cooked… It’s all still there now, but it’s gone. Everything feels different here since the break up. Also, the apartment costs a lot more than I would have thought.

Every month I pay around 450 euros of money from the house, plus property tax, and as lovely as an apartment in an old building is, there is always something broken here. I recently had to fix my heater and while my parents are supportive of me, I don’t like constantly pumping them over something like this. I am an adult after all.

Maybe make an offer to sell it. Because even if our former shared apartment now only belongs to me, it somehow doesn’t feel that way…

*All names have been changed by the publishers.

Uwe Restaurant

Selling the property as a clear bottom line

Before making a decision about whether one of the two partners will keep the apartment or sell the property, everyone should have a clear idea of ​​the financial burden. Can one party pay the other (home value, earnings match)? Can a partner only manage the loan installments? How much does the early termination of the loan contract cost as part of the prepayment penalty?

The best thing to do before a divorce is to figure out exactly what financial resources need to be spent, and then make a decision that is sustainable for both partners in the long run.

Uwe Restaurant is Director of Private Real Estate at Rohrer Immobilien GmbH
(Contact: 089 – 543 04-154 | [email protected])

This article was created in cooperation with Rohrer Immobilien. Thanks for the cooperation.

Related Articles

One Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button