Ms. Justice Dunne’s recent High Court Judgement has effectively halted cases taken by lending institutes for repossession of mortgaged properties. The legal lacuna that was found to exist due to the repeal of 62(7) of the Registration of Title Act, 1964 means that banks are prevented from relying on this particular piece of legislation in their repossession claims.
While Chapter 3 of the Land and Conveyancing Law Reform Act, 2009 introduced similar provisos to those repealed in the 1964 Act, these only relate to mortgages entered into after the 1st of December 2009.
This provides breathing space for many distressed borrowers, at least until new legislation is enacted to remedy this lacuna.
A copy of this landmark Judgment can be revised at: