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one person not paying mortgage-not communicating

  • 02-11-2012 10:34am
    #1
    bobbyss
    Registered Users, Registered Users 2 Posts: 5,275 ✭✭✭


    I would be grateful for any advice around this.

    A and B buy a house together. Both have put down deposits towards its cost. A stopped paying the mortgage about three years ago and has completely stopped communication with B also, leaving B with no option but to continue paying the complete mortgage on his own. B can not sustain this financial strain much longer. B may also like to sell but can not as A is on the deeds.

    The bank is aware of the situation but is not interested as long as mortgage is being paid. It does not care where the payment is coming from even though it is unfair and unjust.


    1. How could B get complete ownership of the house?

    2. How could B get complete ownership of the house if A continues not to communicate at all and does not respond to letters etc. (It is well past the stage of direct communication between A and B)

    Many thanks in advance.


Comments

  • #2
    ResearchWill
    Closed Accounts Posts: 4,111 ✭✭✭ResearchWill


    B can murder A and then become full owner.

    To be honest B needs to engage a solicitor sooner rather than later.

    BTW no one could answer the question in any great detail on the Internet. As the relationship between A and B would need to be known, are they business partners, used they be in a relationship or married. Is the property rented or lived in by one or both of them and on and on.


  • #3
    bobbyss
    Registered Users, Registered Users 2 Posts: 5,275 ✭✭✭bobbyss


    A fair comment ResearchWill.

    They are brothers and have no business relationship as such.

    Thanks for your reply.


  • #4
    simo_101
    Registered Users, Registered Users 2 Posts: 35 ✭simo_101


    bobbyss wrote: »

    The bank is aware of the situation but is not interested as long as mortgage is being paid. It does not care where the payment is coming from even though it is unfair and unjust.

    A general term of any mortgage agreement is that any and all parties are 'Jointly and Severely Liable' - what this means is both parties can be pursued for the mortgage in full, so unfortunately your 'unfair and unjust' argument doesn't fly. This was a contract entered into, bona fide, by both the lender and the borrowers.
    bobbyss wrote: »

    1. How could B get complete ownership of the house?

    2. How could B get complete ownership of the house if A continues not to communicate at all and does not respond to letters etc. (It is well past the stage of direct communication between A and B)

    In regards to taking a party off the mortgage what you would be looking for is a 'Transfer of Equity', which means that the mortgage and deeds would be transferred into B's sole name. However before this could be looked at, B would need to prove to the lender that they can afford the mortgage on their own. Why would the lender release one party from the charge if the remaining parties are unable to pay?

    If A is refusing to cooperate there are a few avenues to explore, B could seek to arrange for power of attorney to be given to a third party to sign on A's behalf or seek the same from the county registrar.

    However, as I said, the lender is fully entitled to pursue both, or one of the borrowers for the full outstanding balance.


  • #5
    krd
    Banned (with Prison Access) Posts: 3,455 ✭✭✭krd


    ResearchWill wrote: »
    B can murder A and then become full owner. .

    A sad state of affairs in Ireland, where solicitors have been reduced to offering their services as contract killers for hire.

    "Conveyancing, personal injury, family law, and the perfect crime"...Package deals too. Buy one, get one free. From the cradle, to the grave, literally.


    Not a bad thing either. Chicago under Capone, was a place of wealth and prosperity. Never mind this Dragons Den balls - let's make this prohibition business work for us.


  • #6
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,550 Mod ✭✭✭✭johnnyskeleton


    krd wrote: »

    A sad state of affairs in Ireland, where solicitors have been reduced to offering their services as contract killers for hire.

    "Conveyancing, personal injury, family law, and the perfect crime"...Package deals too. Buy one, get one free. From the cradle, to the grave, literally.


    Not a bad thing either. Chicago under Capone, was a place of wealth and prosperity. Never mind this Dragons Den balls - let's make this prohibition business work for us.

    I think he may be referring to the recent Lillis case, where the issue as to whether a joint interest is covered by s120 of the succession act or not. Don't think it's a clear cut area of law


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