Can transfer of property happen when a burden charge is on register/folio?

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Coadev4

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Hi, looking for some information or advise if anyone could help clarify? A family member is hoping to gift us a property (it’s derelict and needs total reverb) by transferring the deeds to us.
However there is a a burden on the folio from over 20 years ago?
Will this stop the transfer until it’s paid or cleared up? The current owner wouldn’t have the finances to cover the judgement / Burden, so don’t know where what next steps or options are?
 
If the burden is a Judgment Mortgage that has not been enforced within 12 years (30 years for a Revenue JM) then the owner should apply to the Property Registration Authority to have it removed. It is a straightforward process.

Jim Stafford
 
Yes this was what we were going to do initially as it was recorded for just over £3,000 punt at the time.
However she is being told it’s now up on €45k with compound interest etc!! Seems crazy?!!
If we paid this amount we will need a loan to help, which will impact the mortgage application. leaving us with not enough approved to carry out the works to get the house in a livable condition again
 
Coadev4 said:
Yes this was what we were going to do initially as it was recorded for just over £3,000 punt at the time.
However she is being told it’s now up on €45k with compound interest etc!! Seems crazy?!!
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Get legal advice with a view to either offering a small fraction of this sum in settlement or seeing if the burden is still enforceable.
 
Plus one to legal advice. The numbers don't make sense either. IR£3,000 doesn't compound to €45k over 20 years. €15k is more realistic.

btw, the interest rate on judgement debt was 8% from 1989, and was then reduced to 2% in 2017.

Also, note Jim Stafford's comment above. A 20 year old debt may not be enforceable.
 
Plus one to all the advice so far.

It would be helpful if OP could provide the wording of the Burden. Much easier to offer suggestions if we know what precisely is involved.

mf
 
Coadev4 said:
Yes this was what we were going to do initially as it was recorded for just over £3,000 punt at the time.
However she is being told it’s now up on €45k with compound interest etc!! Seems crazy?!!
If we paid this amount we will need a loan to help, which will impact the mortgage application. leaving us with not enough approved to carry out the works to get the house in a livable condition again
Click to expand...
There might be grants availabile too bring it back up too living standards.
 
Under section 22.1 of the 1981 act, the court may order payment of interest (at the rate specified for the time being in section 26 of the 1840 act) on the whole or any part of the sum in respect of the whole or any part of the period between the date when the cause of action accrued, and the date of judgment.

But no interest may be awarded on interest, and no interest is awarded under section 22, if there is a right otherwise to interest. i,e, the interest is not compounded. Interest is computed on a "simple" basis.

Jim Stafford
 
Thank you all for the information.
If this helps to give clarity,I have the wording on the land register- see below:

A judgement obtained on x/x/1996 in the district court has been deposited in the register as a mortgage against the interest of Mrs xx. The amount owed on said judgement is stated as £2905.00
 
if Mrs xx owned the property as a Joint Tenant and is now deceased, then the JM falls away.

In any event, the JM was never enforced. The owner's solicitor should write to the PRA and have it removed.

Jim Stafford
 
hi my father has a revenue judgement mortgage against his home the JM is now nearly 35 years old to my understanding tht JM expires after 30 yrs he wants to gift the home to me he sent in a aftdavit to the PRA through his soliicitor in early november and has heard nothing back since dont know if thats a good or bad sign does anybody now or have some idea how long this process takes to get JM removed or cant it be removed thanks in advance
 
sammyj said:
he sent in a aftdavit to the PRA through his soliicitor in early november and has heard nothing back since dont know if thats a good or bad sign does anybody now or have some idea how long this process takes to get JM removed or cant it be removed thanks in advance
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What has the solicitor said recently?
 
when my father sent it in which was in early november the solicitor said it could take up to four weeks or more he has heard nothing back from anyone since so dont know if thats good or bad thing im just curious to know would anybody on here have a idea of how long this process would normaly take
 
sammyj said:
when my father sent it in which was in early november the solicitor said it could take up to four weeks or more he has heard nothing back from anyone since so dont know if thats good or bad thing im just curious to know would anybody on here have a idea of how long this process would normaly take
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We had a JM removed unilaterally on an apartment block a few years ago that was older than the 10-12 year limit, it took 4 months and was complete radio silence until it actually happened. The parties to the JM are given notice and a period of time to respond (28 days was suggested), so it’s not a fast process but it works!
 
zenith63 thank you very much for your reply the JM on my fathers house is from the revenue as far as i know a state JM takes 30 years before it expires maybe the process for revenue might take longer i dont know but congrats to you on getting your JM removed
 
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