I am not a lawyer...
I don't think that the current owner of the house can sell it without discharging the judgement mortgage.
So the answer is that you won't be able to buy it until the current owner's solicitor gives an undertaking to discharge the judgement mortgage.
Brendan
I think that you can (legally) sell a house with a mortgage on it, but the mortgage doesn't go away. That is why mortgages are registered. If the OP buys the house he is on notice that there is a mortgage on that property, unless the mortgage has been redeemed it is still owing and the liability continues to exist.I am not a lawyer...
I don't think that the current owner of the house can sell it without discharging the judgement mortgage.
So the answer is that you won't be able to buy it until the current owner's solicitor gives an undertaking to discharge the judgement mortgage.
Brendan
Yes you can! The entire property market would grind to a halt otherwise.you cannot in practice sell a house with a mortgage on it
Normally the mortgage is cleared when the property is sold. This is based on solicitors undertakings, which is great unless Micheal Lynn is your solicitor.Yes you can! The entire property market would grind to a halt otherwise.
Part of the legal conveyance process is to ensure any charge on the property is cleared.
I'd have no concern about judgement mortgages or anything else; except to make sure the correct steps are taken to have those cleared.
Will the judgement mortgage still be attached to the folio once it gets transferred to the new seller?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?