Receivers can collect rent although you suggest no receiver was in place. You can also search the RTB register of tenancies.Also we are fairly certain the property has been let the entire time since the surrender. Would the bank have been collecting the rent - is that something they do?
Otherwise I'm a bit confused. The house might be at the value of the mortgage, but there is the arrears too. It depends a huge amount on the interest rate (tracker or not) but even €100k at 4.5% compounding is going to be €162k after 11 years.We are now in a position to engage with a view to clearing the arrears and closing the mortgage, ideally through a sale of the property. The property is nearly worth the value of the mortgage and if there is a shortfall we will engage with the bank to address this.
Thanks for the reply.Receivers can collect rent although you suggest no receiver was in place. You can also search the RTB register of tenancies.
Otherwise I'm a bit confused. The house might be at the value of the mortgage, but there is the arrears too. It depends a huge amount on the interest rate (tracker or not) but even €100k at 4.5% compounding is going to be €162k after 11 years.
Just go to a solicitor and tell them you want to sell your house.
I have had the thought about us collecting the rent - we haven’t been so that leaves the question of where is it going? Or has it been going anywhere?! Hence my concerns re adverse possession!!From the facts stated, it sounds like ye are still the legal owners, and still owe the debt, and potentially ye should be collecting the rent!
Are the tenants the same as the ones you had in there in 2010? At this stage your former tenant may have moved out, and they may be charging and collecting rent from the current tenants!
Searching the RTB registration of tennancies sounds like a good idea, to see what information you can glean about the rental tennancy.
Is it possible to search court records using the house address? I think if the bank wanted to collect the rent they had to get approval in a court to collect the rent.
We just walked away.
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