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Selling house with possible judgement attached

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  • 29-12-2021 4:40pm
    #1
    youtube!
    Registered Users Posts: 1,265 ✭✭✭


    Hi, asking on behalf of a, relative. She had a successful craft business early 2000s, anyway obtained loans but went bust, personal guarantee, upshot is she couldn't pay so there were several possibly 3 or 4 judgement mortgages against her house, now house has risen substantially in value and she sees the logic in selling, question is is there a way to find out which judgments are still attached and which have expired due to the 12 Yrs the banks have to enforce? She wants to put house up for sale but also needs to know where she may stand financially. Any advice welcome.



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    #2
    Xterminator
    Registered Users Posts: 4,717 ✭✭✭Xterminator


    now it seems obvious your friend will need professional legal advice.

    no boardsie can advise on the specifics of the case . It does appear that judgement mortgages do not expire after 12 years, like a simple judgement order, and would have to be paid off upon the sale of the family home.

    https://www.prai.ie/judgment-mortgages/



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    #3
    [Deleted User]
    Posts: 1,344 ✭ [Deleted User]


    https://www.boards.ie/discussion/comment/118390056#Comment_118390056

    To use that old cliche....." the devil is in the detail ".......... proper legal counsel would be money well spent



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    #4
    youtube!
    Registered Users Posts: 1,265 ✭✭✭youtube!


    Solicitors office it is so!



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    #5
    youtube!
    Registered Users Posts: 1,265 ✭✭✭youtube!


    https://www.boards.ie/discussion/comment/118390056#Comment_118390056

    As a matter of interest just for my own curiosity, can you point out the specific point of law where it says they do not expire? I've read through it but couldn't see it or perhaps just couldn't understand it...



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    #6
    Xterminator
    Registered Users Posts: 4,717 ✭✭✭Xterminator


    they dont expire and be no longer in effect. however you can apply to have a judgement mortgage cancelled. its not the same thing - and is explained in the article. To get a cancellation you have to demonstrate certain facts eg that the debt was not acknowledged etc. in the interim. Bank also gets served notice and can object.

    its a legal process. so my 1st piece of advice is also my piece of advice. your friend will need professional legal advice.



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