Credits and Debts in Property Sharing: Sharing and Payments of Joint Debts
The divorce process can be complicated not only by sharing assets, but also by how credits and debts will be shared. Failure to share credits and debts correctly can lead to legal disputes between the parties after the divorce. In this article, we will examine step by step the details, legal regulations and solutions regarding the sharing of credits and debts in divorces.
Sharing of Credits and Debts: Basic Principles
In the divorce process, the sharing of credits and debts is an important issue both legally and practically. This process is generally carried out in accordance with the following principles:
Determination of Joint Debts
Joint Debts: Debts that both spouses jointly undertake during the marriage are among the debts that must be shared during the divorce. Joint debts usually consist of items such as home loans, consumer loans or jointly acquired credit card debts.
Personal Debts: Debts incurred before marriage or individually by the spouses are considered personal debts and are generally limited to personal assets.
Classification of Debts
Credits and Credit Cards: Credit and credit card debts can be classified as joint or personal debts. Spouses must determine which debts are joint.
Mortgaged Debts: Since mortgaged loans are generally associated with immovable property that guarantees the payment of the debt, they should be taken into account in the division of property.
Legal Regulations and Legal Framework
The division of credits and debts is carried out within the framework of the Turkish Civil Code and other legal regulations.
Sharing According to the Turkish Civil Code
Property Regimes: Debts are divided according to the property regime between the spouses. According to the Participation in Acquired Property Regime, debts acquired during the marriage and jointly assumed are shared equally.
Separation of Property Regime: In this regime, since personal debts are limited to personal assets, the division of debts may be more limited.
Obligation to Pay Debts
Court Decision: During the divorce case, the court may decide how the parties’ debts will be shared. This decision determines who will pay the debts.
Agreement: The parties can reach an agreement between themselves on the sharing of the debts. The agreement must be made official with a legal document.
Sharing of Debts and Payment Process
Sharing and paying debts involves practical steps in addition to legal processes.
Determining and Evaluating Debts
Listing of Debts: The parties must list all current debts and determine who assumes the debts. This list can be submitted to the court or mediator.
Evaluation: The value and payment terms of the debts must be evaluated. Interest rates, maturity periods and other details of the credit debts must be taken into consideration.
Creating a Payment Plan
Payment Plan: A payment plan must be created on how the debts will be shared. This plan must be suitable for the financial situation of both parties.
Repayment: It is determined at what rate and over what period the debts will be paid. The spouses must comply with the payment plan and make regular payments.
Methods of Solution in Case of Disagreement
There may be disagreements about the sharing of debts. In these cases, solutions come into play.
Mediation and Mediation
Mediation: If there is a disagreement between the parties, a solution can be reached with the help of a mediator. The mediator can help the parties reach a common solution.
Mediation: The mediation process allows the parties to find a solution among themselves. The parties can reach an agreement on the sharing of debts.
Legal Aid and Consultancy
Lawyer Assistance: The parties can receive legal advice from lawyers and receive guidance on the sharing of debts. Lawyers provide legal support during the sharing of debts process.
Filing a Lawsuit: In case of disagreement, the parties can apply to the court. The court can make the final decision on the sharing of debts.
The sharing of credits and debts in divorces is an important process to ensure a fair solution between the parties. The correct sharing of debts is important both legally and practically. When sharing credits and debts, acting in accordance with legal regulations and receiving the necessary legal support ensures that the process is carried out in a healthier and more orderly manner. Protecting the rights of the parties and sharing debts fairly contributes to a more positive outcome of the divorce process.
