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Judgement Mortgage

  • 07-09-2010 1:16pm
    #1
    counterblast
    Closed Accounts Posts: 2 ✭


    Can you have a judgement mortage against your property if you are employed by a financial institution in a senior position and what are the implications of having to disclose this. This is just a senario, would welcome any feedback.


Comments

  • #2
    NickDrake
    Closed Accounts Posts: 1,916 ✭✭✭NickDrake


    It's Judgment


  • #3
    dermot_sheehan
    Closed Accounts Posts: 2,062 ✭✭✭dermot_sheehan


    If it's not paid the judgment creditor can seek to have the property sold.


  • #4
    NickDrake
    Closed Accounts Posts: 1,916 ✭✭✭NickDrake


    2009 Land and Coveyancing Law Reform Act 2009 would be a good one for you to check up. Large section on judgment mortgages .

    It has been reformed in that Act


  • #5
    Goesague
    Closed Accounts Posts: 65 ✭✭Goesague


    There is no reason in law why a judgement mortgage cannot be registered against anybody's property on account of their occupation. Most organisations take a dim view of employees getting into financial difficulty, particularly where they might have opportunities to commit fraud. I know of one third level institution which makes it a term of lecturers contracts that they do not become bankrupt. The large financial institution will be easily able to find out about the underlying judgement and whether or not it was satisfied.


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