Urgent! please help!
*I am a resident of Cataluña Spain for 12 years.*10 years ago, me and my ex wife bought a joint property.*I pay half of the mortgage which was part of the divorce agreement until our daughter reach 18years.*Last year,I borrowed 10,000€ from the Spanish Bank.Unfortunately I can´t pay it back.I heard from my ex wife that the bank might take the house and suggested to transfer my part of the house to either her name or our daughter´s name.This might sound irrelevant but I would like to add this issue as well,the boyfriend of my ex wife just recently moved to the house.My questions are:* what should I do?* Does the bank have the right to take the house?* What are the possible actions they might take against me?*What is a better way of negotiating this with the bank that will benefit us both?
Good Morning: Yo have to look for the documents you signed when you took money from the bank. Did you remember if the bank asked you in that moment for any guarantee for the case you could't pay back that money?
If that is the case and you can't pay that money to the bank he can execute that guarantee so that would be legal. The name for that kind of operation is called mortgage.
If you transfer that property to your daugther and wife, that will be considered as a crime is spanish law: properties uprising, which means that you are trying to avoid a payment tranfering any property you could have.
The best is to try a negotiation with the bank.
Ane Miren Magro
ERCILLA ABOGADOS