Will the word "Proportionate"​ save thousands of family homes from being repossessed?

Friel Stafford > Blog > Business > Will the word “Proportionate”​ save thousands of family homes from being repossessed?

Will the word “Proportionate”​ save thousands of family homes from being repossessed?

  • Posted by: Jim Stafford
  • Category: Business, Uncategorized

One thing I have learned over the years is that whilst one can read and understand legislation, what really matters is how the High Court interprets it.

The Land and Conveyancing Law Reform (Amendment) Act 2019 is now law. I set out below a link to the Act:

http://www.irishstatutebook.ie/eli/2019/act/22/section/3/enacted/en/html

The Act initially started out as “Keeping people in their homes” type legislation.

I would suggest that it will take a High Court decision to provide guidance on how, when the courts assess a Repossession Application, the courts should consider the following section:

(a) whether the making of the order would be proportionate in all the circumstances;

Given that there is now High Court precedent that can oblige vulture funds to disclose what they paid for loans, a borrower could seek discovery of what a vulture fund paid for a home loan, and then offer to just pay that amount back, and have the Court approve the proposal on the grounds that such an arrangement would be “proportionate in all the circumstances”.

Author: Jim Stafford