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Customer Question

An investment property mortgage is in joint names.

Ownership is portioned at 99% to me & 1% to my partner.

The investment failed and property handed back to the bank.

Will we owe the full shortfall together (50/50 being in joint names), or will I owe 99% and my partner 1%?

thankyou.

 

Optional Information:
State/Territory: WA

Submitted: 320 days and 22 hours ago.
Category: Australia Law
Value: AU$46
Status: CLOSED
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Expert:  Fran-mod replied320 days and 15 hours ago.

Sometimes, finding the right Expert can take a little longer than expected and we thank you greatly for your understanding. We’ll be in touch again shortly.

 
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