Personal Insolvency Act or Bank agreement

Provided the Revenue's claim against your ex-partner did not arise from fraud, then the bankruptcy will clear him of the Revenue debt.

The OA can only sell you his share of the house if the Revenue "walk away" from their judgment mortgage, which is a distinct possibility in this case.

Jim Stafford
 
I have now signed agreement with bank and my ex partner went bankrupt in court this week. This just dawned on me:
8 years ago my ex partner took out a loan €50.000 in our house-stupidly I signed it too:( The money went straight to revenue to pay a tax bill for my partners business. I am now paying back that loan as well as the rest of the mortgage. I just wondered would it have been possible to have brought that loan to my ex partners bankruptcy proceedings... It might be too late and wishful thinking
 
Anette

Whilst your partner may go bankrupt, the judgment mortgage will remain on his interest in the property, as it was registered as a judgment mortgage more than 3 months before his adjudication.)

As previously advised, you should approach Revenue to "buy out" their judgment mortgage. This process will not happen overnight, as the Revenue will probably await the outcome of the OA's review etc. So take your time in formulating an offer to the Revenue. Given the practical and costly difficulties with enforcing judgment mortgages, you should be able to negotiate a modest discount on their "equity".

If Revenue do not "sell" you their judgment mortgage, then the Revenue will probably allow the OA to realise their interest in the property. If the OA ends up going down that path, the obvious purchaser of OA's interest would be you.

In conclusion, once you "buy out" the equity, the Judgment Mortgage will be lifted. You should obtain expert legal advice in completing the transaction.

Jim Stafford
 
A few years have now passed. I have been paying the mortgage since 2014 and all is fine on that part. Airbnb and rent a room scheme has helped. My daughter and I have been living with a lot of different people in our home.
I have been out of Ireland since August 2017now living in Denmark with the daughter who is doing he leaving cert here.
My ex is living in the house but paying me rent.
I didn't approach revenue to buy out judgement order and now the OA has come back saying that the positive interest in my ex partners 50% ownership is E29569 which we have to tell him whether we will pay that or not. (thats what i have paid over the last 4 years - straight into his pocket.
I just wonder if it is possible to dispute that my ex does not own 50% anymore in that house as he hasn't paid since 2009 and he let the interest go up. We have joint ownership in the house. We now owe E178610 on the house. I think valuation is around E230000. But the OA didn't take into consideration that the house cant be sold now as there are planning issues and boundary issues, and parking needs to be constructed.
Kind regards and happy new year

Anette
 
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