Query about a deed of confirmation

gazzer

Hope somebody here might be able to help me with a query I have on a Deed of Confirmation that I need my mother to sign.

I am in the process of switching and remortgaging to another bank. My mother gave me a loan of 2000 euro towards the legal fees I need to pay the solicitor for the mortgage transfer. I will be paying her this money back as soon as the remortgage goes through.

The bank have sent me a Deed of Confirmation form that my mother needs to sign in the presence of a solicitor.

Would I be right in saying that when she signs this she is just basically stating that she has no financial interest in the house and that there is no comeback on her if there are problems with repayments? Im just wary that in the unlikely event that I (in years to come) have problems paying the mortgage that the bank would come after her.

If that was the case I would rather give her the 2000 back and come up with the money myself.

Thanks

whiskeyman

That's my understanding.
She doesn't need to do it in presence of her solicitor if she fully understands it - she may need to sign a small waiver to indicate she's ok with that however.

GeturGun

I am currently in the process of getting one of these signed.

All it is, is stating that they don't have any interest in the house based on this money. But you should ask your solicitor to explain it fully to you.

My solicitor told me that it costs €150 to get independent legal advice so I have typed up a letter for my parents to sign to say that they have been advised to take legal advice but have chosen not to do so and they fully understand what they are signing.

Mine is for €2k as well. It's an awful lot of hoops to jump through for €2k :rolleyes: Even my solicitor said this!

4ensic15

There have been cases where the banks have attempted repossession and a parent or two claims they advanced part of the purchase money and should get it back when the house is sold. This has cause trouble for the banks. The way out of it is to ensure that any money contributed by a parent is a gift and not for a share of the equity in the property.

gazzer

Thanks everybody for your replies. I rang around a couple of solicitors in Dublin to arrange for my Mum to pop in and get the document witnessed. Getting a wide range of prices though. Ranging from €10 from one solicitor up to €300 for another. All within the same area in Dublin 7

whiskeyman

gazzer wrote: »

Thanks everybody for your replies. I rang around a couple of solicitors in Dublin to arrange for my Mum to pop in and get the document witnessed. Getting a wide range of prices though. Ranging from €10 from one solicitor up to €300 for another. All within the same area in Dublin 7

You don't necessarily need a solicitor to witness it by the way.

gazzer

whiskeyman wrote: »

You don't necessarily need a solicitor to witness it by the way.

Do you not? Oh right. I just assumed you did. I should really read these legal forms properly

I think what confused me is that on the last page of the document there is a section for CONSENT OF SPOUSE OR CIVIL PARTNER TO CONFIRMATION under the Family Home Protection Act 1976. This form needs to be witnessed by a solicitor. However that section doesnt need to be completed as it not relevant.

GeturGun

Even on that last page, my solicitor said that some people cross out the word solicitor and the same person witnessing the first signature witnesses the second.
As long as your mum is happy with what she is signing and what it all means, someone can witness her signature ............ someone who is not you or a member of your family (according to my solicitor anyway)