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Thread: What are future assets?

  1. #1
    Unregistered Lilly
    Guest

    Post What are future assets?

    Hi

    I am about to marry a man who had a property in Spain with his then partner.
    When they split up the debt was not paid on the house.
    He has no real assets of his own but I do.
    Once we marry would the Spanish banks be able to peruse me for his debt?
    I note that they can chase you abroad for all future assets etc?

    This is of course a simplified version of events but I'd like to know what could happen.

    Thanks

    Lilly

  2. #2
    Unregistered Lilly
    Guest

    Default

    I really hope to see an answer to this as its very concerning, 21 views but no reply?

    Thanks

  3. #3

    Default

    Hello Lilly,

    If you marry according to the usual British system for marriages, that is, separate estates, there is nothing to worry about as you are not held liable for any debts he has, nor is he for yours. If the bank claims the payment if his debt, they will only be able to seize any assets in his sole name.

    However, in the event that you bought property and registered in both your names, and any of you did not pay their share of the mortgage, therefore defaulting on payments, the bank would seize the whole property as there is joint responsibility on it, regardless of the marriage economic system, and the party that has been making payments accordingly, could claim the other for the debt.

    Regards,
    Patricia Martin
    Legal Assistant at Lawbird
    Check My Profile

  4. #4
    Junior Member
    Join Date
    Oct 2012
    Posts
    4

    Default

    Simple answer, don't get married...

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