Share

Joint bond headache

A divorced Fin24 user is struggling to get his former wife’s consent to sell their house. He writes:  

I have a joint bond with my ex.

Initially we have agreed on selling the house. Now we have an offer to purchase and she is refusing to sign. She is not contributing in repayments.

What action can I take?

Nicky Campbell, consumer law expert and MD of the SA Law Centre, responds:

Where a joint bond is concerned, both mortgagees are jointly and severally liable for the bond in its entirety. This means that should one party want to sell the property and the other refuses to give permission for the sale, the former party will have to secure the consent from the other party.

Alternatively, if the parties are divorced, the joint ownership of the property ought to have been addressed in the divorce decree.

The other alternative where the consent of one party is withheld is for the party that is servicing the bond to stop making payments towards the loan.

Unfortunately, this will result in legal action being taken against both parties but will alleviate the burden of the one party being saddled with the bond repayments.

- Fin24

Do you have a pressing financial question? Post it on our Money Clinic section and we will get an expert to answer your query. 

Disclaimer: Fin24 cannot be held liable for any investment decisions made based on the advice given by independent financial service providers. 

Under the ECT Act and to the fullest extent possible under the applicable law, Fin24 disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site in any manner.


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.0%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,016.25
+1.4%
Gold
2,220.77
+1.2%
Silver
24.87
+0.9%
Brent-ruolie
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders