Dáil Éireann Debate, Tuesday - 24 March 2015
516. Deputy Niall Collins asked the Minister for Justice and Equality her plans to reduce the period for a mortgage judgment to expire from 12 years to a lesser number of years; and if she will make a statement on the matter. [12071/15]
View answerThe position is that Part 11 of the Land and Conveyancing Law Reform Act 2009 contains statutory provisions concerning the registration of judgment mortgages. Section 116 of the 2009 Act provides that a creditor who has obtained a judgment against a person may apply to the Property Registration Authority to register a judgment mortgage against that person's estate or interest in land. The effect of registration of a judgment mortgage is to charge the judgment debtor's estate of interest in the land with the judgment debt and entitles the judgment mortgagee to apply to court for a well-charging order or other order for enforcement of the judgment mortgage.
While there is no requirement to re-register a judgment mortgage in order to maintain its validity or enforceability against the land or a purchaser of the land, the application of relevant provisions in the Statute of Limitations 1957 means that court proceedings may not be commenced following expiry of a limitation period of twelve years from the date on which the right of action accrued. In the case of a judgment mortgage, the right of action accrues from the date on which the judgment becomes enforceable and not the date on which it is registered as a judgment mortgage. As regards a reduction in the current limitation period, the risk is that any such reduction might simply trigger earlier commencement of court proceedings since the commencement of such proceedings operates to suspend application of limitation periods under the Statute of Limitations. While I have no current plans to amend the law in this area, the matter is being kept under review by my Department.
