CHALLENGING ISSUES OF PARTITION OF PROPERTY IN DIVORCE IN CASE OF LOAN LIABILITIES

Abstract

The article deals with issues related to the division of mortgage loan for real estate at the time of divorce. Divorce, as a process requires the spouses to resolve all property issues at the time of the divorce procedure. The procedure for divorce in the territory of Latvia is available in two ways, by voluntary means that is, in notarial procedure or by judicial means when applying to a court. The author notes that to date, the division of obligations on the loan, is an urgent problem in the divorce case. This issue is coordinated and resolved in the majority of cases on a voluntary basis, by concluding an agreement for reissuing bank documents for one of the spouses. All the changes to credit obligations and the re-registration of the contracts with the bank the spouses carry out independently. Such actions harmonize the whole process throughtout and lead the spouses to a voluntary agreement on the divorse settlement.