married couple, can one half buy a house alone?

udnewhouse · #1 30-10-2007, 03:45 PM

Hi,

Would anyone be able to tell me if a husband would be able to buy a house on his own ( his wife is fine with it) or as he's married would it have to be the two of them??

Thanks

plant43 · #2 30-10-2007, 04:02 PM

I suspect that as they are married the provisions of the Family Home Act will apply. What this means is that he would only be able to sell it on if his wife agrees. Some more info here

http://www.citizensinformation.ie/ca...rotection_act/

mf1 · #3 30-10-2007, 04:11 PM

Quote:

Originally Posted by udnewhouse

Hi,

Would anyone be able to tell me if a husband would be able to buy a house on his own ( his wife is fine with it) or as he's married would it have to be the two of them??

Thanks

Yes - he can but if he is getting a mortgage, the bank will require the spouse to sign a waiver confirming she has had legal advice. Reason is that if owning spouse defaults on mortgage on investment property, lender can go after that persons share of the family home for any shortfall. Plus as plant says the provisions of the FHP Act 1976 mean that she will have to be involved in any sale - she does not need to be joined in the deal but she needs to confirm by way of declaration that its not a family home.

mf

udnewhouse · #4 30-10-2007, 04:23 PM

and if it will be the new family home?? is it still possible then?

PM1234 · #5 30-10-2007, 05:57 PM

It should be fine although may also depend on the lender ie if the non-owning spouse's earnings aren't required for the mortgage. If only the mortgage holders income is required to obtain the mortgage the spouse will have to consent to waiving his/her rights and seek independent legal advice in doing so under the Family Home Protection Act if the family home.

Research the implications of doing this if for FTB stamp duty purposes.

bond-007 · #6 31-08-2008, 09:32 PM

What happens in relation to the Family home protection act when the sole owner with the mortgage gets married?

PM1234 · #7 31-08-2008, 11:43 PM

If the property is the primary residence of the married couple, it is classed as the family home.

If one person is on title/mortgage, their spouse will need to give their consent for additional borrowings, sale etc (as per posts above).

bond-007 · #8 31-08-2008, 11:48 PM

Thanks for that.