Desperate for good advice.

sophia25

A long and complicated story to follow..... Anyway after a very abusive (both physical and mental) marriage, I am left as co owner of two rental properties with my husband. He owned one before we married and bought second when we married. He was refused mortgage for second property unless I went on it with him as my income was needed. After a lot of bullying I agreed to do it and he remortgaged first property and bought second one. A year later we split up and he refused me access to either property. He has leased both properties out and receives €1900 per month from them. He has not made tax returns on this income and has not registered them with the PRTB.

The problem is he has not paid a penny off the mortgages in the last two years (basically using the rental income as pocket money)and they are now €47,000 in arrears and have just been passed to a solicitor. He is living back home with his parents.

We have a daughter who is nearly three who he has not seen in 18 months and I live in a home I owned before marrying, with her. I am struggling paying my own mortgage (he's currently 5k in arrears with maintenance) and can not afford to pay anything towards rental properties. They will be repossessed and there will be a shortfall of circa 200k (increasing daily) which I know the bank will need to recoup. I have pushed the bank for the last 2 years to act as every month in his possession is money he is taking out of the properties.

I am terrified that they will come after my home for deficit as he has no assets. He lives at home with his parents and his BMW is a company lease.

What can I do? I've been to Legal Aid Board and they are going to deal with properties through judicial separation. Should I report him to revenue and/or PRTB? Would it achieve anything? I would really like a fresh perspective as currently on anti-d's and sleeping tablets with the constant worry. Thanks.

3DataModem

I would contact revenue and PRTB. These are also your properties so you have some accountability in their eyes. Inform both that you have no beneficial interest in either properties, no longer hold keys, and have no involvement in the renting of them.

I would tell the banks the same, but they are unlikely to give you any comfort... but its better you tell them now.

Better news:
There is little or no precedent for a bank seizing a family home for a mortgage on a completely different property.

Coriolanus

As 3data says, let the prtb, revenue and anyone else that might need a heads up, know about it.

sophia25

Thanks for that. On the positive sign I have a letter from him confirming I have no access to the properties or receive no income. The bank knows the situation but as you say, while they sympathise, we are both liable for the debt. I also wrote to them two years ago, formally surrendering the properties. With regard to revenue and PRTB, I thought I wouldn't be liable as I am not receiving any income so therefore can't declare it? And the same with PRTB, I have signed no lease so can't register an agreement. I don't even know the name of the tenants.

Good to think that no bank has repossessed a family home for a different mortgage, but they will register a second charge? That would mean I could never sell my home and that when I die, the debt he has incurred will have to come out of sale of my house, meaning I'll have nothing to leave for my daughter. That's in a good case scenario, but with the way things are, they may force sale of my home. I do want to report him to revenue etc. but he is bad enough paying maintenance now and if they went after him, i'd have no hope of him paying for our baby. Just so difficult to know what to do!

Coriolanus

Revenue, in particular, needs to know that you're not making any money off them. The PRTB needs to know because if he comes to their attention via another avenue, your name is on the ownership papers.
So cover yourself and just inform them of the situation regarding the properties.

sophia25

Nevore wrote: »

Revenue, in particular, needs to know that you're not making any money off them. The PRTB needs to know because if he comes to their attention via another avenue, your name is on the ownership papers.
So cover yourself and just inform them of the situation regarding the properties.

I'm afraid of the consequences if he is investigated but I suppose you're right I need to cover myself or I could be held as liable as him and then have that added to all the other amount owed. Thanks.

sophia25

Please anyone else got any other advice? I really could do with a fresh perspective.

Raskolnikov

This is an extremely complicated issue and I'm afraid that it's out of bounds for anyone without a legal qualification to speculate on. With the amount of arrears that are build up on the two rental properties, it's only a matter of time before you and your husband are taken to court. Given that your ex-husband has been so reckless and delinquent is his responsibilities, I would think that you should have a good case.

I am sure money is tight, but you really need to find yourself good legal representation. I would personally visit as many solicitors as I could find with expertise in the area of separation law; try to find one you would have confidence in. Secondly, you need to start gathering evidence. If you still have joint access to accounts, get banks statements of account activity showing that he's simply pocketing the rental cash.

Don't be afraid of your ex and remember that you have to protect yourself and your daughter.

3DataModem

If you are looking for simple solution, there isn't one.

Take comfort in the following;
> Your spouse has put it in writing that you have no beneficial interest in the properties
> You have a home for yourself and your kid, and that it is very very very unlikely this can be seized to pay for your husband pilfering of rent and your negative equity issue.

However; you need to deal with this. As it stands you have a debt that will probably eventually be persued. If / when / how much depends on what actions you take NOW. Take legal advice, for your daughter's sake.

sophia25

Thanks, I genuinely have no way to pay for solicitor but i'm on waiting list for legal aid board. I am in contact with the bank weekly and they have now passed the file onto solicitors. I have no access to his bank statements but at the last court hearing re maintenance, he had to produce them to the judge and he admitted he's receiving the €1,950 per month in rent and not paying mortgage. I have sent an email to the PRTB with the details of properties and will get on to revenue and let them know also. He hasn't declared any of this income. I suppose for the moment all I can do is take things one day at a time.