Change from judgement to judgement mortgage - should we have been given notice of a court proceeding

[pilotf]

Hi there,
We recently received a letter from the Property Registration Authority stating that a judgement mortgage had been granted over a previous judgement from 4 years earlier.
We were not given any notice that this proceeding would happen. Should we have been?
Also, is it likely that something triggered this action, or does it just take 4 years for this to work its way through the system.
Finally, does the 12 year period start from the date of the judgement, or the date of the new judgement mortgage.
Many thanks

 

[Jim Stafford]

You were not entitled to advance notice of the creditor's intention to register a JM.

it does not take 4 years to register a JM. Once the judgement order is perfected, the registration of the JM can be promptly done.

The 12 years starts from the date of the judgment.

If you have other substantial creditors you should immediately see a PIP, as a PIA can "lift" a JM provided a Protective Certificate is obtained within 3 months of its registration. If the other creditors do not vote in favour of the PIA = they would lose out on any equity in the property = they will vote in favour of a PIA.

Jim Stafford

 

[pilotf]

Sincere thanks for your clear response and advice. We are looking into a PIA.

After 12 years, if the creditors have not managed to force payment through the sale of the home, does the JM disappear, or does it remain on the property?

Many thanks.

 

[Ravima]

people generally do not give notice of intention to register judgement mortgage, lest you try to remove assets.