Dáil Éireann Debate, Tuesday - 30 January 2018
157. Deputy Donnchadh Ó Laoghaire asked the Minister for Finance if there are provisions in place for persons who previously have entered into a rent to buy scheme and who now want to purchase their home but the property is now with NAMA; and the protections in place to guarantee tenancy on the previous agreement or a new agreement. [4193/18]
View answerThe Deputy will appreciate that NAMA does not own or manage properties. NAMA has acquired loans. The properties securing those loans continue to be managed by their legal owners or, in the case of enforcement, by duly appointed insolvency practitioners. Insolvency practitioners such as receivers and administrators act as agents of the original owners of the properties, not as agents of NAMA.
As the Deputy will be aware, rent to buy schemes are private contractual agreements entered into between a vendor and a purchaser of residential property with an option to purchase at the end of an initial letting period. In light of the private contractual nature of these schemes, it is a matter for the tenant/purchaser to take their own legal advice on the terms of the contractual arrangements entered into with the landlord/vendor and engage with them in the first instance.
