Again, the bank won’t care anyway – it has a legal contract with the borrowers and collateral. That’s what is called personal and real liability. What both parties arrange internally in case of a separation has zero influence on the bank’s approach. It will also prefer one or the other.No clarification, there can be none on our part! Notary/lawyer and that's that, there can be no other answer, at least if you want to provide effective assistance. That doesn’t mean that other viewpoints may not be posted and/or there may be grumbling and rambling.
Again, the bank will not care anyway. It has a legal contract with the borrowers and collateral. This is called personal and real liability. What both parties arrange internally in case of separation has zero influence on the bank's actions. It will also favor one or the other sometimes.
Listen, the OP asks at the beginning that he wants to protect himself so that no one is a loser. That’s why my warning: no matter what you agree on, the bank couldn’t care less. For example, you can write that the one who stays in takes over the loan. That would not work, for example.No one trades good security for worse security, that’s not what this is about at all! This problem with 2 borrowers, which is the rule, and separation always arises.
The core problem here is something completely different, we have the answer now.
Listen, the OP asks at the beginning that he wants to arm himself so that no one is a loser. That's why my warning, no matter what you agree on, the bank cares 0. For example, you can write that the one who stays in takes over the loan. That would not work, for example.