Vanilla, the burden is £8500 Irish pounds put on the land by a local farm suppliers for goods & feeds that were never paid for! thats only information i could get of the folio! this happend in the late 80's and the farm suppliers are still in existance
1. They make an application to have it removed from the folio as it is statute barred ( if not acknowledged by them in the last 12 years) or
2. They pay it off and ask the judgement creditor to consent to its removal ( you could ask that they undertake to deal with it on closing and that sufficient purchase monies be held on trust by the vendors solicitor to discharge it and thereafter it is removed from the folio within a reasonable time) or
3. They make a settlement with the judgement creditor, or ask the jc to voluntarily remove it from the folio ( unlikely).
In any case, as the purchaser it is not your problem to deal with, it is the vendors.
The burden appears to be a judgement mortgage. If so it is valid for 12 years only from date of registration, and would now be cancelled by PRA on request. Do not start correspondence with the creditor, as this may revive matters. See your solicitor.
The burden appears to be a judgement mortgage. If so it is valid for 12 years only from date of registration, and would now be cancelled by PRA on request. Do not start correspondence with the creditor, as this may revive matters. See your solicitor.
Not strictly true. If the debt was acknowledged in writing by the debtor, the statute starts again from the date of the acknowledgement.
The creditor would be served with notice of the intention by the PRA to cancel the judgment mortgage (if an application is lodged that comes up to the necessary proofs - the prospective purchaser would not be likely to be able to make that affidavit, not being in full possession of the facts), and allowed an opportunity to object and show proof as to why the statute has not run. If that happens there is a whole heap of bother progressing the application.
To the OP -
Does it start with "An office copy of an affidavit by.... in the matter of...". If so it is a judgment mortgage
you can go ahead with the purchase, but get an undertaking that a release will be furnished on close, together with an undertaking that the solicitor for the vendor will deal with any PRA queries in relation to same.
j26 -
the buden starts " an office copy of the affidavit by Mr xxx of ... of a judgement obtained by ......on the nov 1987 against in the circuit court.... defendant has been deposited in the registry as a mortgage against the interest of Mr . ...... the amount owing...
it goes on to note: as between this burden and any lien on the property created by deposit of the land certificate prior to the date of this regisration, this burden ranks in priority after such lien.
the matter is further clouded - the foilo it turns out is still in my grandfater name (RIP) and the burden is in his name, the land was left to my uncle who is now overseas, and as im looking for site from him (i.e - he is not trying to sell the site) i feel i will be left with the burden to pay along with the agreed fee for the site!!
does the fact that land is still in my grandfather -is that going to further cause problems buying the site off my uncle and further delay the process??