Key Post Married couples, unmarried couples, their property and debt problems

Brendan Burgess

[FONT=&quot]Married couples[/FONT]
[FONT=&quot]I am not a lawyer, but I couldn't find any good summary of this issue anywhere. So I have summarised the questions and answers on askaboutmoney.[/FONT] [FONT=&quot]Do not take any action based on these notes - consult a solicitor.[/FONT]

[FONT=&quot]This FAQ does not cover civil partnerships [/FONT]

[FONT=&quot]My husband and I jointly own our home. What happens if he is made bankrupt? [/FONT]

[FONT=&quot]The house will be sold. [/FONT]
[FONT=&quot]The mortgage will be repaid. [/FONT]
[FONT=&quot]You will get half the proceeds[/FONT]
[FONT=&quot]The trustee in bankruptcy will get the other half. [/FONT]

[FONT=&quot]Can I refuse to give my consent to the sale under the Family Home Protection Act? [/FONT]

[FONT=&quot]My husband wants to give the family home, which is in his sole name, as security for a loan. [/FONT]

[FONT=&quot]You should refuse to give your consent. He cannot give the home as security for a loan without your consent. [/FONT]

[FONT=&quot]If you consent and he does not repay the loan, then the lender can seize the home and sell it to repay the loan. [/FONT]

[FONT=&quot]I own the family home in my own name. The bank has a judgment against my husband. Can they register it against the family home? [/FONT]

[FONT=&quot]I moved into my husband's home which is in his name, but kept my former home which is in my name. There are judgments against my husband. Can they enforce them against my former home. [/FONT]
[FONT=&quot]No. [/FONT]

[FONT=&quot]We own the family home jointly. The bank has a judgment against my husband. Can they register it on the family home? [/FONT]
A creditor can get a judgment against a debtor and place a judgment mortgage on, and force the sale of, a family home.

[FONT=&quot]We own the house in our joint names but my husband’s financial future is tricky. Can he transfer the house into my sole name?[/FONT]
[FONT=&quot]Yes, he can do it, but it might not be a good idea. [/FONT]

[FONT=&quot]Can a husband buy an investment property in his sole name? [/FONT]
From MF1 Yes - he can but if he is getting a mortgage, the bank will require the spouse to sign a waiver confirming she has had legal advice. Reason is that if owning spouse defaults on mortgage on investment property, lender can go after that persons share of the family home for any shortfall. Plus as plant says the provisions of the FHP Act 1976 mean that she will have to be involved in any sale - she does not need to be joined in the deal but she needs to confirm by way of declaration that its not a family home.

Some years ago, my husband bullied me into allowing him give the family home as security for a loan. Now the bank wants to repossess the home. Is there anything I can do?
You will need to see a solicitor on this. According to Lavelle Coleman:
“[FONT=&quot]The courts have been very protective of the non-owning spouse’s rights. The courts treat the grant of consent similarly to the grant of a guarantee or independent security. Therefore, the consent may be[/FONT]
[FONT=&quot]set aside for undue influence. Independent legal advice for the non-owning spouse may be desirable in some circumstances. This may be advisable, where there is a no obvious or proportionate benefit for the spouse.”[/FONT]

[FONT=&quot]What does the Family Home Protection Act do? [/FONT]
[FONT=&quot]Where the family home is in one spouse’s name only, they cannot sell it or give it as security without the consent of the other spouse. [/FONT]

[FONT=&quot]It only applies to married couples.[/FONT]
[FONT=&quot]It only applies to the family home.[/FONT]

[FONT=&quot]If the home is in both names anyway, the Act is redundant. [/FONT]

[FONT=&quot]Explained very well by MF1 here and .[/FONT]

[FONT=&quot]Sources and further reading
Legal Guide to the Management and Enforcement of Security in Ireland (2009).[FONT=&quot]By Lavelle Coleman[/FONT]
[FONT=&quot]Citizens Information[/FONT]
[FONT=&quot]Family Home Protection Act 1976[/FONT]
[FONT=&quot]Family Law Act 1995[/FONT]

Brendan Burgess

[FONT=&quot]Unmarried couples living together [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]My partner and I have been living together for 10 years. We have two children but never married. The house is in his name only. What rights do I have? [/FONT]
[FONT=&quot]You have no formal rights. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]However, you could make a case that you contributed to the ownership of the house by paying the mortgage. You would need to take a High Court case to get any of the proceeds. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]I am taking out a mortgage on my home which is in my own name. The lender wants my partner to sign away her rights? [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]My partner has agreed to put my name on the deeds. What are the implications? [/FONT]
[FONT=&quot]You will be a joint owner of the house. [/FONT]
[FONT=&quot]You will have to pay stamp duty at 1% on half the value of the house. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]My partner and I own a house together. The bank has a judgment against him amd wants to register it against the home?[/FONT]
[FONT=&quot]Yes, they can do that. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]When you sell the house...[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]The main mortgage will be paid off first. [/FONT]
[FONT=&quot]You will get half the remainder. [/FONT]
[FONT=&quot]The judgment mortgage will be paid off out of his proceeds and he will get the balance. [/FONT]
[FONT=&quot] [/FONT]


I bought my house on my own in 2007, i've only recently got married and lost my job also. my wife is a public sector worker with secure job, we now live in the house together but are really struggling with the repayments. my question is if i was unable to keep up repayments would the bank try and recover the money from my wife who is not on the morgage and i didnt even know when i bought the house? i feel im draging us both down because the house is worth a lot less than i paid for it. help!