How are debts divided after a divorce?
December 8, 2022 | 30,00 EUR | answered by Alexander Hartmann
Dear lawyer,
My name is Eva Ullmann and I am currently in a difficult situation as my husband and I want to get divorced. During our marriage, we have accumulated shared debts, both in the form of loans and unpaid bills. I am very concerned about how these debts will be divided after the divorce and whether I may be held responsible for the entire debt.
Starting situation: My husband and I met 10 years ago and got married 5 years ago. During this time, we bought a house together for which we took out a loan. Additionally, we used joint accounts and credit cards to finance our living expenses. Unfortunately, we failed to establish a clear agreement regarding the debts, and now we are facing the challenge of dividing them.
My concern is to find out how the debts can be divided in my case after a divorce. Are there any legal requirements that I need to consider? Can I protect myself from an unfair division? What options do I have to secure my financial situation and not be held liable for all of my husband's debts?
I would be very grateful if you could provide me with your expertise and experience during this difficult time. Your assistance in clarifying these questions would be of great importance to me.
Sincerely,
Eva Ullmann
Dear Mrs. Ullmann,
Thank you for your message and your trust in my legal expertise regarding family law. I understand that you are in a difficult situation and are concerned about the division of shared debts. I will do my best to assist you in this matter.
In your case, where you and your husband have accumulated debts together, it is important to know that German family and divorce law follows the principle of marital property regime. This means that assets and debts acquired during the marriage are generally divided equally between the spouses. This also applies to jointly incurred loans and debts.
Regarding the house you mentioned, which you acquired together and for which you took out a loan, it is typically divided equally in a divorce. This means that you and your husband both have a claim to half of the value of the house. This could mean that one of you takes over the house and buys out the other, or the house is sold and the proceeds are divided equally. As for the loans taken out for the house, these can also be divided equally between the two of you.
It is important to emphasize that the exact division of debts and assets in a divorce is individual and dependent on the specific circumstances of the case. Therefore, it may be advisable to consult with an experienced family law attorney early on to clarify your legal options and claims.
To protect yourself from a potentially unfair division of debts, it is advisable to collect and document all relevant documents and evidence of shared debts and assets. This can help you assert your claims in the divorce proceedings and achieve a fair division.
Additionally, it may be beneficial to negotiate with your husband for an amicable agreement regarding the debts to avoid conflicts and disputes during the divorce. Mediation or an out-of-court settlement can often help find a fair solution that satisfies both parties.
In terms of your financial security and avoiding liability for your husband's entire debts, it is important to know and enforce your rights and claims in the divorce. An experienced attorney can help you protect your financial interests and achieve a fair division of debts.
I hope that my explanations have been helpful to you and have provided you with an initial overview of the legal framework in your case. If you have any further questions or require more detailed advice, I am at your disposal.
Best regards,
Alexander Hartmann, Attorney at Law
