Read more at businessandlegal.ie
Many hard pressed homeowners, fearful of losing their homes as a result of being unable to repay their mortgages, have been handed a lifeline by a High Court decision in July 2011 by Ms Justice Dunne.
Prior to the implementation of the Land and Conveyancing Law Reform Act 2009 lenders relied upon section 62(7) of the Registration of Title Act 1964 to apply to Court to seek a possession order when the borrower had defaulted on his loan.
The decision of Ms Justice Dunne that section 8 of the Land and Conveyancing Law Reform Act 2009 repealed section 62(7) of the Registration of Title Act 1964 means that lenders can no longer rely on section 62(7).
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