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Judgement Mortgage!?

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  • 05-11-2010 1:54pm
    #1
    Ziycon
    Registered Users Posts: 1,987 ✭✭✭


    Not sure if this is the right place, I'm in the middle of trying to buy a house and everything has been agreed by both sides.
    This issue is that there is a Judgement mortgage against the current owner. Can someone shed light on what this means and any problems that may arise from this or implications it could have for me etc.

    Thanks in advance.


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    #2
    Mountjoy Mugger
    Registered Users Posts: 4,487 ✭✭✭Mountjoy Mugger


    It will only effect the seller. See here for information.


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    #3
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    Ziycon wrote: »
    Not sure if this is the right place, I'm in the middle of trying to buy a house and everything has been agreed by both sides.
    This issue is that there is a Judgement mortgage against the current owner. Can someone shed light on what this means and any problems that may arise from this or implications it could have for me etc.

    Thanks in advance.

    The seller cant sell the property until he/she discharges the debt associated with the judgment mortgage.


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    #4
    kaiser sauze
    Registered Users Posts: 1,558 ✭✭✭kaiser sauze


    It does not affect you, only the seller.


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    #5
    dermot_sheehan
    Closed Accounts Posts: 2,062 ✭✭✭dermot_sheehan


    kaiser sauze wrote: »
    It does not affect you, only the seller.

    Incorrect, a registered judgement mortgage charges the land. The judgement mortgagor can seek to have the land sold regardless of who owns it. Of course the solicitor you use for the purchase will insist that the judgement mortgage be discharged as part of the sale.


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    #6
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    gabhain7 wrote: »
    Incorrect, a registered judgement mortgage charges the land. The judgement mortgagor can seek to have the land sold regardless of who owns it. Of course the solicitor you use for the purchase will insist that the judgement mortgage be discharged as part of the sale.

    Yeah thats basically the sellers problem in the real world.


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    #7
    dermot_sheehan
    Closed Accounts Posts: 2,062 ✭✭✭dermot_sheehan


    :rolleyes:


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    #8
    kaiser sauze
    Registered Users Posts: 1,558 ✭✭✭kaiser sauze


    gabhain7 wrote: »
    Incorrect, a registered judgement mortgage charges the land. The judgement mortgagor can seek to have the land sold regardless of who owns it. Of course the solicitor you use for the purchase will insist that the judgement mortgage be discharged as part of the sale.

    Ya wha?

    It does not affect the buyer; the charges against the property/land will be handled at the seller's end by his solicitor and the persons who have registered the judgement.

    The buyer's solicitor will get an undertaking from the seller's solicitor that this will be done.

    It does not affect the buyer, simple.


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    #9
    dermot_sheehan
    Closed Accounts Posts: 2,062 ✭✭✭dermot_sheehan


    kaiser sauze wrote: »
    Ya wha?

    It does not affect the buyer; the charges against the property/land will be handled at the seller's end by his solicitor and the persons who have registered the judgement.

    The buyer's solicitor will get an undertaking from the seller's solicitor that this will be done.

    It does not affect the buyer, simple.

    If the judgement mortgage is left undischarge it will effect the buyer as it charges the land.

    The norm is to have the seller discharge the mortgage immediately before sale (the same as with other mortgages).

    Occasionally the buyer could decide to discharge it himself and seek an appropriate reduction in purchase price.

    In many occasions the judgement mortgage is registered more then 12 years ago and is now statute barred, in which case the buyer may seek a statutory declaration from the purchaser that they have not been served with well charging proceedings and that they undertake to discharge the mortgage if any well charging proceedings are served on the new purchaser.

    To say it will never effect a purchaser is incorrect.


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    #10
    kaiser sauze
    Registered Users Posts: 1,558 ✭✭✭kaiser sauze


    gabhain7 wrote: »
    If the judgement mortgage is left undischarge it will effect the buyer as it charges the land.

    It would take an amazingly incompetent buyer's solicitor to let this happen.
    gabhain7 wrote: »
    The norm is to have the seller discharge the mortgage immediately before sale (the same as with other mortgages).

    Yes, the undertaking that I mentioned.
    gabhain7 wrote: »
    Occasionally the buyer could decide to discharge it himself and seek an appropriate reduction in purchase price.

    Almost never done.
    gabhain7 wrote: »
    In many occasions the judgement mortgage is registered more then 12 years ago and is now statute barred, in which case the buyer may seek a statutory declaration from the purchaser that they have not been served with well charging proceedings and that they undertake to discharge the mortgage if any well charging proceedings are served on the new purchaser.

    I assume you meant a declaration from the seller? Again, this would be handled by the buyer's solicitor.
    gabhain7 wrote: »
    To say it will never effect a purchaser is incorrect.

    True, but you are covering for what would amount to incompetence in the legal profession. I have no indication that mistakes like the above are commonly made, so why make a simple piece of advice overly complicated?


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    #11
    dermot_sheehan
    Closed Accounts Posts: 2,062 ✭✭✭dermot_sheehan


    kaiser sauze wrote: »
    True, but you are covering for what would amount to incompetence in the legal profession. I have no indication that mistakes like the above are commonly made, so why make a simple piece of advice overly complicated?

    Yes it would have to be a screw up by the purchaser's solicitor for the judgement mortgage to have any impact on the purchaser.

    I would qualify any advice that it would *never* have an impact as I have come across the incompetence you've referred to above.

    So to the OP, if you're solicitor is doing his job right it won't have any impact. If he is incredibly incompetent it will. Such incompetence is thankfully rare but unfortunately not rare enough.


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    #12
    Ziycon
    Registered Users Posts: 1,987 ✭✭✭Ziycon


    Thanks for all your help and advice. Is there a way to view the judgement online? I had a brief look at www.courts.ie but didn't see anywhere to search for these type of judgements!?


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