Judgement Mortgage and Inheritance/Gift

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TimetoSortStuf

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Long story short......My dad has a Judgement Mortgage against the family home from 1990 for approx IR£66,000. The judgement was obtained by Revenue.

I have lived in the house for the past 10 years as now I look after my dad who is widowed and in his seventies.

I would really love to be able to keep the house after my dad passes away (hopefully it won't be for a good few years). My question - if the house was gifted to me or if I inherited would the outstanding debt have to be paid before I can register it in my name or would i be able to take over the Judgement Mortgage until the house is sold at some stage. I wouldn't have the money to pay the dept if I had to in the next couple of years.

Thanks for any advice you can give
 
TimetoSortStuf said:
Long story short......My dad has a Judgement Mortgage against the family home from 1990 for approx IR£66,000. The judgement was obtained by Revenue.

I have lived in the house for the past 10 years as now I look after my dad who is widowed and in his seventies.

I would really love to be able to keep the house after my dad passes away (hopefully it won't be for a good few years). My question - if the house was gifted to me or if I inherited would the outstanding debt have to be paid before I can register it in my name or would i be able to take over the Judgement Mortgage until the house is sold at some stage. I wouldn't have the money to pay the dept if I had to in the next couple of years.

Thanks for any advice you can give
Click to expand...

Hi TimetoSortStuf

My understanding is that a judgement mortgage becomes unenforceable after 12 years and you (your father or the owner of the property) can apply to have it vacated i.e. removed. You should speak to a solicitor who will confirm but I think the judgement isn't an issue anymore.

Good luck.
 
It may or may not be statute barred. The Statute of Limitations for State Authorities is 30 years.
The forum won't let me link, but look at the Property Registration Authority website - there are Practice Directions on Judgnent Mortgages and Cancellation of Burdens. Read them.

If you think there may be a case to get it cancelled, contact a solicitor.
 
As j26 suggested, the Statute of Limitations for the Revenue is 30 years. Normally a judgment mortgage falls away after 12 years, but a Revenue judgment mortgage does not fall away for 30 years. Converting the IR£66,000 into euro, and applying the judgment rate of interest, the debt is now approx. €170,000.

The Revenue are unlikely to sit on their hands and wait for the 30 years to expire. They have a very effective diary system to keep track of judgment mortgages. They have another 5 years to act, and possibly bring a bankruptcy petition against your Dad.

If your Dad passed away before the 30 year time limit, the debt would have to be paid from his estate etc.

Jim Stafford
 
TimetoSortStuf said:
Long story short......My dad has a Judgement Mortgage against the family home from 1990 for approx IR£66,000. The judgement was obtained by Revenue.

I have lived in the house for the past 10 years as now I look after my dad who is widowed and in his seventies.

I would really love to be able to keep the house after my dad passes away (hopefully it won't be for a good few years). My question - if the house was gifted to me or if I inherited would the outstanding debt have to be paid before I can register it in my name or would i be able to take over the Judgement Mortgage until the house is sold at some stage. I wouldn't have the money to pay the dept if I had to in the next couple of years.

Thanks for any advice you can give
Click to expand...
hi timeto sortstuff im in a simalar situation as you the jm on my fathers house is now 33 years old at looking at your thread here at the time the jm on your fathers house was 25 years old im just wondering how did you get on did you get the jm removed for your fathers home thanks in advance
 
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