Hi Michael
They can only send in receivers to investment properties and not on family homes.
The lenders often say that they can't find the owners in which cases they are told to renew their efforts or apply for what is known as "substitute service"
Here is an extract from my report on a trip to Donegal in 2015
There were almost 200 cases and no possession order was granted.
Case 1
Bank sought an order
In March, no one appeared. No recent contact from borrower.
The property is vacant. No appearance has been entered.
Registrar: Where are they residing
Solicitor: I don’t know
November 2014 we got a sub service order
Registrar: These are all photocopies
November 2005 Borrowed €157k over 35 years
February 2012 Defaulted
Last payment 25 March 2013
€159k now due.
€14k arrears
Affidavit on CCMA – not complying
Registrar: last statement is August 2012 – is there a subsequent statement?
Yes, but it’s not attached to an affidavit.
It must be, so Adjourned
Case 2
In July 2014 got an order for sub service
14 April letter and 22 June
Reg: Are they living there
Solr: They live outside the jurisdiction and have sent back the keys
Reg: When did they move outside the jurisdiction ?
Solr: Don’t know
Reg: Was it a pPR?
Solr: Yes
Last payment 20 Jan 2012 for €50 ( monthly repayment due was €1,300)
€300k balance with €85k arrears
Reg: When was last contact
Solr: Numerous attempts were made but none was successful.
REg: When were the keys returned?
Solr: I don’t know
Reg: I need to know that
REg: Were they any negotiations?
Solr: I don’t think so
Reg: I am concerned that there has been no engagement. How long has the property been unoccupied?
Solicior: I think it may be better to adjourn than to waste the court’s time.
Reg: You want me to adjourn?
Solicitor : On that basis, A property is vacant, I am concerned. Could we have short adjournment?
Reg: What would that achieve? Best to hear it in full in October
Reg: The folio is from 2006. I would want a more recent one.