Judgement on NPPR- apartment
Hi,
I am a director of an owners management company and the OMC is in the process of registering a second judgement mortgage on an apartment within our complex as no service charges have been paid since the apartment was purchased, approximately 10 years ago.
Just to clarify- our company is obtaining its second however our second will be the third judgement registered on this property.
The property has been rented out continuously for the last 10 years however we do not know if any rent is paid to the owner of the unit.
The first judgement mortgage is only for a few thousand however our two are for about €30,000 in total.
Can anyone explain the 12 year rule for judgement mortgages assuming the first judgement mortgage for the few thousand was registered in 2007, second one in 2008 and now one in 2012.
What options are available to the Owners Management Company to collect this money ?
Could the Personal Insolvency Bill impact on service charges that are owed on units in Multi Unit Developments ?