I jointly own a house with my spouse, which we would like to sell. I currently have two judgement mortgages which are only against me from a failed business, one is from Revenue and the other is an individual. There is currently a mortgage on the property too. My question is, can we sell the property with the judgement mortgages and pay them off with the sale proceeds of the property ?
The first question you have to ask yourself is whether the JMs are outside the Statute of Limitations (30 years for Revenue and 12 years for others). If you are currently close to the 12 years it might be worthwhile waiting.
Experienced solicitors acting for judgment creditors know that it is virtually impossible for a Judgment Mortgage creditor to force the sale of a family home. Before selling you should approach the private JM and negotiate a settlement with them. Their solicitor will generally advise them to negotiate.
If you have other debts you should consider a PIA.