Buying or renting a home with or without a partner?
Can I rent or buy a home on Curacao without my partner’s permission?
Buying or renting a home on Curacao is no problem for some partners. However, many people have questions in their heads. What happens to the debts after the death of the partner? Who must pay off the loan or continue to pay the rent after a divorce? Can my partner actually take out a loan or lease without my permission? This last question is answered in the article below.
When do I need my partner’s consent?
It depends on the loan form whether you need permission from your spouse / partner. For the loans below, permission from your registered partner or married person is required:
- Purchase on installment
- Rental-purchase (you purchase the property, but pay its value as monthly rental)
- Mortgage on a jointly occupied home
Installment purchase and hire purchase, however, have one “but”: if they are intended for a business or for the exercise of a profession, you can purchase them without the consent of your spouse.
Entering into an agreement without partner information
It is possible to take out a revolving credit or personal loan without a partner. However, spouses are obliged to inform each other about their financial household. Applying for a loan can also have consequences for your spouse. Married and registered partners both automatically assume half of the debt. That is, if there is a household debt. A household debt is a debt incurred for the common household, such as a revolving credit or personal loan.
Community of goods vs. prenuptial agreement
When you get married in community of property, all debts are combined. You are both responsible for the entire debt, also known as joint and several liability. If you marry under a prenuptial agreement, then the prenuptial agreement describes who has which financial obligations. You are usually not liable for the debts of the other that were entered into before the marriage. Of course you are jointly liable for all debts and agreements that have arisen after signing the prenuptial agreement.
Before you decide to sign a rental or purchase agreement, it is wise to find out whether you want or can do this without your partner. It does not matter whether or not your partner lives or comes to live on Curacao.
For more information on this subject or questions about selling and buying a property on Curacao, please contact firstname.lastname@example.org
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