Mortgages are usually borrowed a large sum, with a repayment period of up to 20-30 years, and the best collateral for the bank is mortgage. The property is the joint property of the spouses and therefore it is easiest to establish a mortgage on it securing the loan taken by both.
Before the bank grants a loan, it examines the creditworthiness of its client. If it is insufficient, it may refuse to borrow money. In determining this ability, it takes into account, among others the borrower’s assets and the ease with which it can be enforced. However, the bank must know that there is no joint property between the spouses because they have entered into a common currency.
The spouses who have concluded the interpreter earn extra money separately, each on their own account and each of them thus creates their own personal property.
If such a spouse acquires real estate and needs to take out a loan for partial financing, then the installments will be repaid from his separate assets. However, if they stop paying them, the bank will start enforcement of its personal property.
The consent of his husband or wife will not be needed for a spouse to take out a loan. However, such consent is necessary if the loan was drawn by only one of them, and they both had a common property. There is a rule that the validity of the contract leading to the encumbrance of the property made by one spouse depends on confirmation by the other spouse.
By granting credit to both spouses, the bank may enforce unpaid installments on joint property and personal assets of both spouses. He will be authorized to do so by an enforceable title issued against both spouses. On the other hand, an enforcement order issued only against one spouse authorizes the execution of all the joint property of the spouses after giving him an enforcement clause also against the other spouse. The other spouse is responsible only for the property covered by the joint property, but is not liable for his personal property.
In order to obtain such a clause against the debtor’s spouse, the bank would have to prove an official or private document that the debt determined by enforcement title was obtained from a legal act carried out with the consent of the debtor’s spouse.
In this situation, it is much easier to execute only the assets of one person with personal property. The bank does not have to apply for an enforceable title against the spouse of the debtor, and also be afraid that the spouse of the debtor will bring an anti-enforcement action and thus will defend himself effectively against payment of his husband’s or wife’s claim.