Divorce and family home

[Thirsty]

It's not 100% clear, but my reading is that the possible sale of the family home is on foot of the divorce proceedings.

 

[The Horseman]

Are you sure about that?

A pal of mine’s family had issues with Revenue and they just secured a judgement mortgage against the property to be cleared when the parents (who were elderly) had passed away.

Yes but any charge must be renewed every 10 yrs via the courts. Its a simple process. A charge has an interest rate associated to it. Last time I looked it was a yearly fig of 8% on the debt.

Its being a couple of years since I obtained one so the interest may have changed.

 

[cremeegg]

Any creditor with a charge on the property can force the sale. The bal outstanding on the charges are paid chronologically. If the positive equity in the house does not fully discharge all charges it is the most recently dated charge that loses out.

AFAIK a Revenue charge takes precedence over any other. This would mean no other creditor could force a sale without Revenue agreement.

While Revenue could force a sale, my understanding is that they do not generally force the sale of family homes, and the circumstances of this case make it even more likely.

 

[The Horseman]

AFAIK a Revenue charge takes precedence over any other. This would mean no other creditor could force a sale without Revenue agreement.

While Revenue could force a sale, my understanding is that they do not generally force the sale of family homes, and the circumstances of this case make it even more likely.

I was never involved in a case were revenue also had a charge so don't know.

I would however suspect revenue can't take preference over the banks charge. Whatever about other creditors charges. Otherwise a person could stop paying a mortgage knowing revenue would stop the bank forcing a sale.

 

[Ravima]

I would however suspect revenue can't take preference over the banks charge.

Only God trumps Revenue!. They rank first.

 

[Knitwood]

Sorry for not updating in a while.

The father's bank debt is on his second house. The house he bought when he moved out from the family home.

The revenues judgement mortgage was applied before my mother got a notice of marriage on the property. That was to offer some protection in the family home because revenue could have stepped in at any stage to force the sale of the home. That stops them for now.

I think the fathers plan that was with MABS was, the father was going to sell his second property to raise funds to cover all his debts.
All that was stalled because the mother moved with a divorce.

I think, my mother's solicitor believes my father might come after his share of the family home now that he's nearly homeless. I don't know what my father's position is.