Are a wife’s rights in the family home protected if the property is in the husband’s name only , and the bank tries to realise the mortgage after he defaults on repayments ?
By: דיאנה שאלתיאל•Published on: 12 May, 2022Firstly, in general a family home acquired during a couple’s marriage is joint property even if it is registered in only one spouse’s name .
Secondly, if the property is registered in one spouse’s name only but both of them take out a loan to purchase it, the other spouse must still sign on the mortgage deed for the bank to be entitled to actualise its right to all the property if the repayments are not met.
If a bank attempts to realise its mortgage on the whole property which is registered in one spouse’s name only, and it is discovered that the other spouse never signed the mortgage deed, then the action relating to the latter’s share of the rights will be invalid.