A bank can sell a couple’s north Dublin home despite not charging a fee for the husband’s 50 per cent interest in the property, the High Court has ruled.
r Judge Garrett Simons said it was “fair and equitable” to allow Allied Irish Banks PLC to sell the home, which was not the couple’s family home.
The lender, represented by attorney Keith Rooney, could then recover half of the net sale proceeds to collect its debt to Kellie Greene, aka Kellie Byrne.
The remaining 50 percent of the net proceeds from the sale of the home on Hamlet Avenue, Chieftain’s Way, Balbriggan will be paid to co-owner Kenneth Greene.
The judge said his order allowing the sale “seems unlikely” that the couple would be left homeless as the property is not their family home. None of the accused attended the court hearings.
The court ruled that Ms Greene’s interest in the property was well encumbered with a debt to AIB of €413,000 plus interest. This stems from defaults on commercial loan facilities granted to her personally in 2004 and 2006 to purchase the Hamlet Avenue home and to restructure her debt.
Ms. Greene had been an employee of the bank and therefore qualified for certain loans at preferential rates, the judge found. A formal demand for repayment was made in 2014.
Mr Justice Simons previously ruled that Mr Greene’s interest in the property was not encumbered as he had posted a surety bond for his wife’s debts.
The bank had claimed that the filing implicitly stated that Mr Greene’s share of the property was being billed, but the judge found that the filing was not well founded. He said there was nothing in the records to suggest so, and the bank’s affidavit confirmed that the loan facilities were only granted to Ms Greene.
Mr Justice Simons ruled that the suretyship was not secured by the provision of a reasonable mortgage on his share of the property.
However, the man was aware that his wife had provided security for the property and he had provided a guarantee.
The judge said the bank was entitled to enforce its security against Ms Greene’s interest in the property, while Mr Greene was protected by paying half of the net sale proceeds.
He issued various orders, including one under Section 31 of the Land and Conveyancing Law Reform Act 2009, allowing the property to be sold.
https://www.independent.ie/irish-news/courts/bank-can-sell-couples-house-despite-husband-not-being-in-debt-high-court-rules-42168207.html The bank can sell the couple’s house even though the husband is not in debt, the Supreme Court has ruled