Divorce property: Nina wants to stay, Nils wants to sell - what now?

Nina and Nils no longer see a future in their marriage. They want a divorce. Now they are faced with the problem of how to divide the property they share. Nils is in favor of the simplest solution: sell it, divide the proceeds and pay off the loan in full. But Nina definitely doesn't want to move with the three children. She also believes that she will be able to get away more cheaply than if she were to look for a rented apartment given the current high rents. Whether this is true is one question - and whether Nils wants to go along with it is another.

Nils actually wants nothing more to do with the house after the divorce. He has lived in it with his family all these years and now wants to draw a line under it. His friend, who is a lawyer, has also told him that if he remains co-owner of the property, he would still be fully liable for the debts to the bank that have not yet been repaid, not just for his share. When Nina and Nils bought the house 12 years ago, they took out an annuity loan with a fixed interest rate for 15 years. In 3 years' time, they would therefore also have to arrange follow-up financing, and they would only be completely debt-free in 18 years or so. If at some point Nina is no longer able to pay off her share of the loan installment each month, then everything would fall on Nils.

Nils has absolutely no desire to do this, even if he could then reduce the maintenance payments due by the rent Nina owes him for the use of the property. If Nina is determined to stay in the house, he would prefer to sell her his share of the house. But how can he do that? Nina won't be able to pay him the value of his share of the property in cash unless she robs a bank. And then the chances of him being able to leave the old marriage behind and concentrate fully on a new start would be slim again.

"What other options are there?" Nils ponders. As soon as the divorce is final, he could go to court and apply for a partition auction so that Nina would be forced to move out after all. But he also knows that this is not a good idea. Not only because the proceeds would be far too low, but also because it would almost certainly lead to endless stress with Nina. Perhaps they could try to find a buyer instead who would buy the house without Nina having to move out. Nils' lawyer friend once told him about a so-called leaseback purchase, where an open-ended tenancy agreement is concluded at the same time as the purchase contract. The new owner would then rent the property to Nina and she could stay in it. Nils is already aware that the purchase price will be lower as a result, but he would accept that. So that would be a solution. But are there really interested parties who want to buy a rented detached house rather than an empty one? Perhaps as an investment? Nils isn't really sure, but maybe he should talk to Nina about the idea. They could give it a try. Then they would definitely need a professional valuation. Once Nina is ready to go that far, if the leaseback purchase doesn't work out, maybe she'll finally agree to a "normal" sale and a move. Nils will also offer to help her find an apartment and renovate. The main thing is that he has peace of mind afterwards.

Are you about to get divorced and don't yet know what should happen to your joint property? Get in touch with us! We will work with you to find the best solution.

Did not find what you were looking for:

https://www.familienrechtsinfo.de/scheidung/haus-bei-scheidung/

https://www.mainz-kwasniok.de/gemeinsames-haus/versteigerung-in-der-trennung/

https://www.immobilienscout24.de/wissen/verkaufen/haus-verkaufen-und-zurueckmieten.html

Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific individual case.

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