Court of Appeal ruling could put hundreds at repossession risk
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A landmark judgment by the Court of Appeal could see hundreds of homeowners face renewed threat of repossession, The Irish Times reports.
The court has ruled that a man fighting a possession order is not entitled to challenge the registration of a “vulture fund” as the owner of a charge on his home.
The key legal question concerned whether a bank was entitled to sell the mortgage on a property to another party when it had not correctly registered itself as the owner of the mortgage.
The man in question, Rolf Kane, is one of over 1,700 former Bank of Scotland Ireland (BOSI) mortgage customers whose mortgages were transferred to US fund Tanager.
Mr Kane claimed the mortgage was not re-registered to Bank of Scotland plc (BOS) after the bank’s 2010 merger, and therefore BOS was not entitled to sell the mortgage to Tanager Designated Activity Company, who applied for repossession when he later fell into arrears.
Ms Justice Marie Baker, handing down judgment in the Court of Appeal, said the register of titles was conclusive and could not be challenged.
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