Mars Capital

breeners

Mars Capital Vulture Fund

As power of attorney in non transferrable ,did anyone ask how they were able to get their name on deeds or inspect your folio without your permission. Mars Capital has no right to view instrument on a folio . Property Registration Authority should have not allowed same .

Jim2007

First of all we don't give legal advice only opinions, you should consult a solicitor in this matter.

A couple of points to keep in mind:

• Anyone can consult and obtain a copy of the a folio entry, so Mars Capital is as entitled as anyone else to view your folio
• Your debt has been assigned to Mars Capital in accordance with the agreement you signed. The don't need your permission to register their interest in your property.

As for Mars Capital having their name on your deeds, I have no idea, but as I have suggested you need to consult a solicitor on this.

breeners

Anyone can look at your Folio , but no access is allowed to the "instrument "which creates a burden without signed permission . This would have been given to your solicitor when dealing with original lender by Power of Attorney , But Power of Attorney is non transferable ,so Mars should have not being allowed

Jim2007

https://www.boards.ie/discussion/comment/119318161#Comment_119318161

As I have already pointed out to you, you should consult a solicitor and in particular the one you mention in this post.

Jim2007

Moving this to legal as it seems to be a legal question rather than a financial one.

breeners

I am waiting on a reply from Mars , I Have not contactacted a solicitor , just researched Power of Attorney Act !996 which clarifies it is not transferable as regard to "immovable Property

Lenar3556

https://www.boards.ie/discussion/comment/119321050#Comment_119321050

I’d say you are on to something there alright. I presume you have already stopped repayments? NB: If you end up in court, make sure the judge has an oath in his arse pocket, otherwise the proceedings are highly illegal.

breeners

yes i think i am , and I also think a loan that has a proviso is not rechargeable, , but definite they have no power of attorney . Not sure what you mean !has an oath otherwise highly illegal ,(more research for me )

TheBMG

Seek PROPER legal advice

Robbo

https://www.boards.ie/discussion/comment/119318161#Comment_119318161

The right inpect instruments is dealt with in Rule 159 of the Land Registry Rules. Applications are made via Form 96. Aside from the registered owner of the lands, a registered charge owner or person entitled to the benefit of a burden may inspect the instrument. The PRAI generally scrutinise applications to inspect quite closely as there was an awful amount of messing carried out in relation to inspection a few years ago by fake lawyers who tend to prey on people in mortgage arrears.

Please seek proper legal advice from this. This is an area where there are a number of unqualified, uninsured and clueless operators in existence who like to spin yarns about oaths, powers of attorney etc and promise the earth but tend to disappear quite quickly (or cry conspiracy) when their knowledge is found to be fault. A good rundown of these charlatans may be found in the Freeman Megamerge thread.

Claw Hammer

https://www.boards.ie/discussion/comment/119328923#Comment_119328923

What is this proviso about non - rechargeable. What does that mean?

Oh I can feel the old "delegatus non potest delegare" coming here...

breeners

mars were not original charge holder , so they have no right to inspect instrument without permission , and as i said Power of Attorney is non transferable Prai , would have been incorrect to allow them to inspect or create new charge . Prai are not very helpful . Mars do not have a banking licence , so insisting that " its commercially sensitive in my opinion , is a "fob Off .

breeners

Delegatus non protest delegare , wow , just looked it up , impressed , thank you

Esel

Delegatus non protest delegare

Judges love a bit of pig Latin.

Claw Hammer

https://www.boards.ie/discussion/comment/119343045#Comment_119343045

Is Mars now registered as a charge holder?

whippet

@breeners you should look up the success story of this fella

https://www.irishexaminer.com/news/courtandcrime/arid-40914023.html

He has been using all these legal arguments for years and as you can see he is wildly successful ..... well depending on what you deem as successful - he hasn't paid a cent towards his mortgage for over a decade .. but after throwing every harebrained legal whohoo at it has finally been told he has to hand over the keys

breeners

Mars repla

https://www.boards.ie/discussion/comment/119352764#Comment_119352764

yes now registered , even though they had no power of attorney

breeners

minister for justice and Equality reply to Dail Question 18 Sept 2013

Any person authorised by such owner, or by order of the courts or by provisions of the Land Registry Rules , But "NO other person may inspect a document filed in the Registry on a dealing or transaction

No power of Attorney = no permission

https://www.boards.ie/discussion/comment/119362421#Comment_119362421

Yeah, that's not how it works. Mars own the charge. They are entitled to inspect and take a copy of the dealing which created the charge. The PoA has nothing to do with this. Mars own the charge and therefore they are entitled as a matter of right, not by means of permission, to inspect that charge.

They can't take up anyone else's charge or any other dealing. But they can certainly take up their own charge.

You are 100%, unquestionably wrong about this.

Claw Hammer

https://www.boards.ie/discussion/comment/119360795#Comment_119360795

If they registered, it is because they bought the charge. You agreed with your original lender that they could transfer the charge. What are you complaining about?

ohnonotgmail

https://www.boards.ie/discussion/comment/119362652#Comment_119362652

hoping for some magic words to make the debt go away

breeners

dont believe in magic , they are allowed sell my mortgage , no doubt about that , inspecting instrument to create a charge , is the issue , as they didnt transfer charge, but created another , fact from Folio

breeners

Disagree about 100% wrong ,Pra had to let them create a new instrument and delete previous , not a transfer , create it what they did , my original solicitors would have had Power of Attorney to allow Original lender to create 1st charge and Pra would have been given this when application to put my name on folio , But non transferable and I certainly did not sing up a new one

When Mars Amalgamated recently , I wrote To PRA in case Mars tried to create a new A new charge with new name , Prai advice no registration can be made on foot of same

Rule 188 Land Registration Rules !972

" the registered owner of a property and any person authorised by such owner or by order of the court or by these rules , but no other person, may inspect a document filed in the registry on a dealing with the property of the owner.

Also Rule 52 also Rule 101

ohnonotgmail

https://www.boards.ie/discussion/comment/119364564#Comment_119364564

you are trying to find a loophole to avoid paying what you owe like many before you. None of those succeeded and neither will you.

dennyk

What exactly is your objection? If the balance owed isn't correct or the material terms of the loan have been changed in some way that isn't permitted under your previous loan agreement, you might have a cause of action.

If you had a €XXX,XXX loan at Y% with your original lender and now you have an €XXX,XXX loan at Y% with Mars Capital because they bought your loan (or your lender), you don't get to magically make your €XXX,XXX debt disappear because you don't like how the secondary mortgage market works.

If Mars Capital is claiming you now owe €YYY,YYY instead of €XXX,XXX, or is changing your interest rate, repayment amount, or other loan terms in breach of your original loan agreement, or is incorrectly claiming you are in arrears or not processing your repayments correctly, then you can take action to get those issues corrected, but you will still owe €XXX,XXX to Mars Capital in the end; that debt isn't going to just disappear because they made an error.

If you are in arrears, you have the same protections under the CCMA even if your loan is sold, and the buyer must still follow the MARP; you can see more on that process here:

https://bpfi.ie/customer-assist/personal-customers/debt-management/

However, again, the fact that your loan was sold doesn't give you any extra rights or abolish your debt or your arrears; the new loanholder just has to follow the correct processes when engaging with you regarding your arrears, same as any lender.

breeners

not trying to avoid anything , just have been doing a bit of research and would like everything to be correct and legal , just wanted a few opinion while I waiting for Their panel Solicitor A.b Wolfe to reply Normally very fast but not so fast with my list of questions this time

thanks everyone for opinions

@breeners

Have you consulted the Magna Carta @breeners ?

bigroad

Would Mars Capital take final offer if one has been put on a split mortgage a few years ago.

Would they no be better to get a 60 percent offer than wait twenty years for the final fifty percent that they have warehoused.

https://www.boards.ie/discussion/comment/119364564#Comment_119364564

100% wrong again.

I would bet some folding money that the burden page of the Folio has a burden (say, number 1) which is in favour of your original lender. Then there is a burden further down in the name of Mars which says "Mars is the owner of the burden listed at number 1". That's not a new burden, it's a folio note indicating the owner of the first legal charge is now Mars. It is not a new burden. They transferred the ownership in the charge. That's the fact.

Donald Trump

https://www.boards.ie/discussion/comment/119365806#Comment_119365806

There will also be a note under the original burden saying that "ownership of this charge has been transferred. See entry No. X".

Without wishing to drag the thread off topic, I was looking at different plots of land for sale over the past couple of years. Some of those that I looked into, turned out as being sold by receivers. And some of those were landlocked. I'm not asking in relation to ROWs of necessity or implied ones blah blah, but rather why on earth would a bank accept a landlocked parcel as collateral? Is it simply an oversight by the Bank? Or would there be something else going on whereby they are going through some process, perhaps after coming to an arrangement with the borrower, and simply wanting a record that they tried to sell something to recover their money? Or, e.g. the Bank agrees to settle the debt with the sale of that land, knowing in advance that a family member will buy it at below cost? It was something I was curious about as I have seen in a few times over the last couple of years.

Marcusm

https://www.boards.ie/discussion/comment/119364564#Comment_119364564

Do you understand that the mortgage’s literal meaning is death pledge, ie it is the charge not the loan. They acquired the loan with the benefit of the mortgage charge. More importantly, do you not see that the argument you raise amounts to “I borrowed money and I am of such low moral standing that I want to weasel out of repaying it”?

ohnonotgmail

https://www.boards.ie/discussion/comment/119365261#Comment_119365261

Did she die in vain?

Claw Hammer

https://www.boards.ie/discussion/comment/119364682#Comment_119364682

Your original solicitors would have given an undertaking to the bank to register the original charge. they didn't need a power of Attorney since you would have agred to it as part of your loan acceptance. Similarly you agreed that they could sell the benefit of the charge. The benefit of the charge carries with it the right to be registered as a charge holder. The PRA would only need the permission of the charge holder to cancel its charge and allow the registration of the new one.

breeners

kayroo , just a question , if it was a straightforward transfer , why is their 2 different instrument numbers

https://www.boards.ie/discussion/comment/119383890#Comment_119383890

One for the original loan and one for the transfer of interest.

whippet

https://www.boards.ie/discussion/comment/119383890#Comment_119383890

what has your solicitor said regarding this transfer ? what is their opinion of it ?

whippet

https://www.boards.ie/discussion/comment/120261218#Comment_120261218

I'm not legal eagle - and I'd like to hear what an actual solicitor would say about that as opposed to ransomers on the Internet.

ohnonotgmail

https://www.boards.ie/discussion/comment/120264571#Comment_120264571

That was a reply to a different set of circumstances made long before you started posting in the thread.

ohnonotgmail

https://www.boards.ie/discussion/comment/120264626#Comment_120264626

why is my opinion important? the only important opinion is that of a high court judge. this has gone well beyond the remit of the forum.

YFlyer

https://www.boards.ie/discussion/comment/119328279#Comment_119328279

OP don't listen to sovereign citizens.

it’s funny to me that you claim not to have time to start a thread on EBS but you somehow have the time to quote posts from months ago and just generally rambling about them here.

sky is the limit

Yet he still lives there happily I can confirm he’s my neighbour and a very knowledgeable man. Now stick in your pipe and smoke it Ben ain’t going anytime soon 🤣