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  • FIRST POST
    • iolande
    • By iolande 21st Sep 16, 9:11 PM
    • 88Posts
    • 49Thanks
    iolande
    Repossession question
    • #1
    • 21st Sep 16, 9:11 PM
    Repossession question 21st Sep 16 at 9:11 PM
    If a mortgage is registered against a property after matrimonial home rights have been registered, what happens to the home rights once the property has been repossessed?
Page 1
    • Thrugelmir
    • By Thrugelmir 21st Sep 16, 9:25 PM
    • 49,954 Posts
    • 41,613 Thanks
    Thrugelmir
    • #2
    • 21st Sep 16, 9:25 PM
    • #2
    • 21st Sep 16, 9:25 PM
    The lenders rights to repossess the property take precedence. Making the home rights valueless.
    A man is rich who lives upon what he has. A man is poor who lives upon what is coming. A prudent man lives within his income, and saves against a rainy day.
    • iolande
    • By iolande 21st Sep 16, 10:13 PM
    • 88 Posts
    • 49 Thanks
    iolande
    • #3
    • 21st Sep 16, 10:13 PM
    • #3
    • 21st Sep 16, 10:13 PM
    So your spouse can take out a mortgage after you put in a home rights notice and ensure that it is repossessed? What's the point of a home rights notice then?
    • stator
    • By stator 21st Sep 16, 10:18 PM
    • 4,915 Posts
    • 3,106 Thanks
    stator
    • #4
    • 21st Sep 16, 10:18 PM
    • #4
    • 21st Sep 16, 10:18 PM
    Can't get a mortgage if the home rights were first
    What does the registration of home rights mean for Lenders?

    Once home rights have been registered they act as a charge on the property resulting in the registered proprietor being unable to sell or mortgage the property unless written consent has been received from the spouse in whose favour the right is registered.
    Changing the world, one sarcastic comment at a time.
    • iolande
    • By iolande 21st Sep 16, 10:23 PM
    • 88 Posts
    • 49 Thanks
    iolande
    • #5
    • 21st Sep 16, 10:23 PM
    • #5
    • 21st Sep 16, 10:23 PM
    They can and they did. With their parents.
    • iolande
    • By iolande 21st Sep 16, 10:24 PM
    • 88 Posts
    • 49 Thanks
    iolande
    • #6
    • 21st Sep 16, 10:24 PM
    • #6
    • 21st Sep 16, 10:24 PM
    The home rights are still on the deeds after repossession
    • Thrugelmir
    • By Thrugelmir 21st Sep 16, 11:37 PM
    • 49,954 Posts
    • 41,613 Thanks
    Thrugelmir
    • #7
    • 21st Sep 16, 11:37 PM
    • #7
    • 21st Sep 16, 11:37 PM
    So your spouse can take out a mortgage after you put in a home rights notice and ensure that it is repossessed? What's the point of a home rights notice then?
    Originally posted by iolande
    If you are inferring wrong doing of some kind. Then that is another matter.
    A man is rich who lives upon what he has. A man is poor who lives upon what is coming. A prudent man lives within his income, and saves against a rainy day.
    • stator
    • By stator 22nd Sep 16, 9:06 AM
    • 4,915 Posts
    • 3,106 Thanks
    stator
    • #8
    • 22nd Sep 16, 9:06 AM
    • #8
    • 22nd Sep 16, 9:06 AM
    They can and they did. With their parents.
    Originally posted by iolande
    Check with the lender if their signature was forged
    Changing the world, one sarcastic comment at a time.
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