Good day, I'm divorced for 10 years. Div...

Asked by Gen on 17-01-2019 09:54:32
Question posted in the Property Law category relating to Western Cape
Question value: R 100.00

Good day, I'm divorced for 10 years. Divorce agreement is as follows: I'm awarded the house, continue with bond payments and 2019 I have to pay my ex husband an amout set on the divorce papers for full ownership of the property.

1. I know I have to do the substitution of debtors and that they will do affordability check. Do I however have to restart a NEW homeloan or do I just continue paying the existing homeloan? My concern is that I only have 2 years left on the current homeloan and I have no intention of repaying the same house TWICE.

2. what would be my best option? How do it affect the situation should i settle the homeloan in full and then transfer the house onto my name.

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